I'll give you a hint, TAXPAYERS: It starts with a T and ends with an S has an A in the middle.
Related: Slow Saturday Special: Banker's Bag of Goodies
Got it?
"Treasury reported near deal on firms ‘too big to fail’" by Anne Flaherty and Jim Kuhnhenn, Associated Press | October 27, 2009
WASHINGTON - .... Who should pay to dissolve big financial institutions endangering the general economy has been considered among the toughest questions that Congress had to answer after last year’s near-collapse of several firms that prompted hefty government bailouts.
Well, WE KNOW WHO DOES PAY!
Lawmakers know that voters are still angry from the bailouts and don’t want to see taxpayer money on the line. At the same time, businesses say it is unfair to force them to invest their capital in advance to pay for the mistakes of others....
How's that for biting the taxpayer hand that plumps up your profits, huh?
Wow, talk about UNGRATEFUL!
Representative Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee’s legislation would give the government unprecedented power to seize non-bank firms, dismiss their management, and wipe out shareholders.
Fascism is ALWAYS BEST IMPLEMENTED under a LIBERAL CLOAK!
The government has similar powers when it comes to banks, but was powerless last year when large bank holding companies and insurance giant American International Group teetered on the brink of collapse and threatened the broader economy.
If THAT isn't an INSULT I've NEVER BEEN INSULTED!
If GOVERNMENT can't stand against them then I'm all in!
See: Who REALLY Runs Washington
There go my chips to the... BANKS!!!
Under Frank’s plan, such large firms would be designated by the government as systemically important. They would have to hold more money in reserve and would have a tougher time borrowing against their assets, in the hopes that this would make them less likely to fail.
Resting on HOPES, are we? Did you throw a please in there, too, or.... ?
Are vultures a sympathetic bird?
--more--"
