Gorilla says:“Then the government would guarantee their loans and provide them with excellent, high paying jobs!!!”
Posts Tagged ‘banking’
If Only They Were Banks!
Tuesday, January 11th, 2011Slamdown For Cramdown
Friday, December 11th, 2009The House of Representatives again decided not to pass cramdown, that is the practice of allowing bankruptcy court judges to alter the terms of mortgage loans, in a clear victory for the taxpayer funded banking industry.
When this sort of thing keeps happening, you know that the Congress remains a captive of the financial services industry.
Most of the “regulatory reform” that will pass does absolutely nothing to limit the size and power of Wall Street.
A few caps on pay may be popular, and a fig leaf of transparency may make derivatives trading seem benign, but too big to fail remains the guiding principle behind Washington’s approach.
It’s an abrogation of both fiduciary duty and moral hazard that all but guarantees the next big bubble disaster.
Gorilla says: “Volcker was right, the only thing innovative in the banking industry for 30 years was the ATM, and now there’s one in every Congressional office!”
No Vacation From Torture
Monday, August 24th, 2009Unless of course, you authorized it, that’s just fine, but if you actually did it, that’s different.
Torturers and bankers have more or less gotten the same message: if you’re too powerful, impunity is never having to say you’re sorry.
Gorilla, returned from vacation, says: “Our public officials are as clean as the coal in West Virginia!”
