January 31, 2010

Because no one saw that coming

Other than, say, every conservative around.

Bank bailouts created more risk.

Money quote (see what I did there?)

Barofsky wrote the $700 billion financial bailout has encouraged more risk-taking because bank executives, who are still receiving massive bonuses, figure the government will come to the rescue the next time they steer their ships nearly aground.

No.  Fucking.  Shit.  Once the whole "too big to fail" meme started, why the hell would risk taking be reduced?  Hell, the gubmint will just come and save us the next time.  Also note the slam on the bonuses as well. 

Look, there is no way out that's not going to involve tons of pain.  The question is how much pain and for how long.  The same people who created the regs and whatnot that got us into this mess are the ones now claiming they can get us out.  Yeah, that's going to end well. 

Posted by: alexthechick at 03:26 PM | Comments (5) | Add Comment
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