This is change I can believe in - Lindsay Graham is right. The banks are so crooked and broken I believe this is the only way out of the mess. It worked for the S&L industry. When are we going to see some bankers go to jail?
I believe that Enron was just a chip off the tip of the iceberg of corporate dishonesty and what we are seeing now is the collision of the Titanic with the main body of ice. The US and world economy will not recover from this mess without a radical intervention far beyond the scope of Tarpulus and Porkulus spending.
I have a fairly freshly minted Rice University MBA from 6 years ago, and in 2 years of classes there was not one word mentioned about credit default swaps, not a word. Now the world economy is on its knees because of them. Blame whoever but the driver was pure-D unadulterated GREED.
The banks are so crooked and broken I believe this is the only way out of the mess. It worked for the S&L industry. “
False. We never nationalized a single S&L. We simple bought assets of insolvent banks and resold them - BIG difference.
The US Govt has not operated private banks before.
The is new territory.