Here's the threat to out financial system... which is getting shutdown this November 2nd!!!
Government should not be in the loan shark business period.
Excuse me, I have to go take my money out of the bank...
Has Barney Frank been sleeping with any other bankers lately?
Has Chris Dodd received any other preferred loans lately?
Here's the threat to out financial system... which is getting shutdown this November 2nd!!!
These tyrants are absolute Communists.
Wait, I thought To big too fail was synonymous with hurry give us cash money! LOL Bernanke is waking up? Does this mean we can shut down states as well... I can say that as I am sitting in the Peoples Republik of North Carolina where we are paving everything in sight (again).
Man, that’s some serious bullshit. Lehman didn’t get bailed out because they didn’t have the right connections. And the firms that wanted to carve them up did.
Until there aren't any of them left.
Yep, start closing banks and see what happens...
Nothing good!
Bernanke is slow, but he is learning.
When a large bank (or banks) comes to the US Treasury or Fed, saying “Bail us out despite our really bad management choices, stupid use of leverage, purchase or sale of illiquid bespoke derivatives, etc” and then adds “...or we’ll collapse and take down the economy with us!” they’re effectively financial terrorists.
A suicide bomber is a terrorist because he takes other people with him - by deliberate planning and method. If some Islamic whack-job wanted to blow himself up out in the middle of the weeds because he was pissed off, hey, I’d buy him whatever explosive he wanted to use. That’s just suicide, regardless of how much noise he makes turning himself into pink mist. The terror aspect comes in when he decides to use his suicide to commit homicide.
Same deal with the bank. If they choose to engage in epic stupidity that costs their stockholders and bond lenders their capital, then the people harmed a) should have read the financials better, and b) if the management lied on the financials, we already have laws and mechanisms to put the management into prison.
But when the bankers say “...or we’ll take down the economy with us...” when agitating for a bailout, then IMO, they have crossed the line. A POTUS should be able to invoke national security language to deal with these clowns.