Words of Advice:

"We have it totally under control. It's one person coming from China. It's going to be just fine." -- Donald Trump, 1/22/2020

“We will not see diseases like the coronavirus come here..and isn't it refreshing when contrasting it with the awful presidency of President Obama."
-- Trump Press Secretary Kayleigh McEnany, 2/25/20

"I don't take responsibility for anything." --Donald Trump, 3/13/20

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground Who is Incapable of Understanding or Doing Anything About It." -- Unknown

"There seems to be almost no problem that Congress cannot, by diligent efforts and careful legislative drafting, make ten times worse." -- Me

"What the hell is an `Aluminum Falcon'?" -- Emperor Palpatine

"Eck!" -- George the Cat

Thursday, December 10, 2009

Too Big to Fail

Andrew Ross Sorkin points out that nothing has really changed on Wall Street. They still have no new regulations, they still can package crap into securities and sell them as AAA-rated securities. Nothing has been done to stop those greedy bastards from wrecking the financial system again.

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I've noted before that Bank of America is paying back the TARP funds so that they can pay huge bonuses once more and get out from under the eye of the regulators from Goldman Sachs the Treasury Department. Now Citigroup is trying to do the same thing.

The banks may not have learned from this debacle, but we must. Let's start by bringing back Glass-Stegall.

I'll post Matt Taibbi's interview on the Colbert Report once it's available:
"When you bet billions of dollars on subprime mortgages and then get the government to bail you out when it all goes wrong and then you buy a beach house with taxpayer money, that's the opposite of the free market."

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