On Mon, 05 Apr 2010 19:08:05 -0400, Wes wrote:

Ignoramus25832 wrote:

When did bailing out banks become a liberal cause?


I think that we have several people here, who confuse proper economic
analysis and informed, impartial thinking with a "liberal point of
view". Bailing out banks is something that was started under the Bush
administration, and this is a course of action that did not have
practical alternatives.

Sadly while the conservative view would be 'let them be hoisted with their own petard'
(sorry Shakespeare), I don't think GWB and his advisors thought conservatism was a suicide
pact. On reflection, I think GWB did the right thing though I was all for breaking the
stick off in their arses at the time.

Wes
========
There is a significant difference between rescuing the banks and
rescuing the bankers.

While the least bad alternative appears to have been propping up
the banks [they are still not "rescued"], there appears to be no
justification for not having mass executive terminations "for
cause" which negates the "golden parachute" clauses in most
employment contracts as part of the "rescue."

How many of the accountable bankers are doing time for fraud
and/or tax evasion? How many bankers are under indictment? How
many bankers got a bonus?

What possible motivation/deterence against causing another crash
has been implemented?


Unka George (George McDuffee)
...............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).