Thursday, December 09, 2010

... And It Will Happen Again

We can talk all we want about how new regulations or oversight will prevent another collapse of the major banking institutions or prevent the need for another taxpayer bailout. We can pretend that the taxpayers won't stand for another bailout. But when push comes to shove....

Paul Krugman writes,
I think this film [Inside Job] will stay with us; when you ask how the even worse crisis of, say, 2015 happened, the fact that these people got away with it will loom large.
I don't want to seem pessimistic, but "2015" feels all too possible.

2 comments:

  1. I think it will take a little longer - but otherwise your point is valid. Both political parties have been bought and paid for by the banking industry.

    I thought that just about the only thing about the Obama administration that I "knew" I would approve of would be the fact that they wouldn't continue the "bailout" policies of the Bush administration . . . shows what I know.

    CWD

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  2. Cue up the band and play "The World Turned Upside Down" - John "I can't spell ethics" Conyers takes a stand on an issue and I support him . . . shudder.

    "Conyers was among 54 lawmakers who signed a letter to House Speaker Nancy Pelosi calling one hotly contested provision of the tax agreement — the two-year extension of cuts for individuals making more than $200,000 yearly, $250,000 for families — "fiscally irresponsible" and "grossly unfair.""

    CWD

    ReplyDelete