WHICH BIG BANK IS THE ABSOLUTE WORST? GARY RIVLIN TAKES A STAB AT THE ANSWER
A MUST-WATCH IMO. While I don't agree with everything that's said here, I do concur with a lot. No corporation should be too big to fail. Corporate welfare in this country for the big banks is out of control and should end. Period. Heartening that both men think the Democrats are to blame big time for the mess we're in. Would have thought these liberal commenters would have bashed just the Republicans. Of course there are no easy answers and there's plenty of blame/responsibility to go around.
I admit I think some good will come from these unruly protests because it's calling attention to most taxpayers' deepest concerns: we're sick and tired of bailing out everyone and his brother, especially the fat cat, opulent Wall Street bankers! Nothing is allowed to fail anymore, so no one ever learns from their mistakes. I don't think OWS is an organized movement with a common focus, nor ever will be. Still, it serves some purpose and will have to play out to see if it has a worthy component that is productive to all of us taxpayers.
My two cents:
ReplyDeleteCorporate leaders are not the bad guys here. Corporate executives, union leaders, AARP spokesmen, Planned Parenthood leaders, and NRA lobbyists should all be expected to pursue the best interests of the people who hired or elected them. That they try to take legal advantage of government favors is neither wrong nor surprising. The bad guys are the government officials who, elected to represent the citizenry, instead seek campaign contributions and power by granting favors to special interests.
Thanks, JB. Agree in part. However to allow the world's biggest banks to be assured they'll be bailed out from their mistakes and bad investment losses by us the taxpayers is not right. I think back to Hank Paulson former head of Goldman Sachs who became the last Sec. of Treasury under Bush who started TARP, the corporate bailouts of the big banks, and I think it's criminal.
ReplyDeleteA clear example of business and government being too entwined. No corporation should be too big to fail.