"Wall Street Reform" Means a Few More Trillion Next Time They Screw Up
h/t WC Varones and seriously, how could you make up something like Barney Frank: "financial reform" means an even bigger bailout for Wall Street next time they screw up? I had my doubts. There's a Bloomberg link. And holy shit, he really said that.
What is with them pulling this shit over the holidays? Do you see yet that health care "reform" is a large hunk of rancid meat at the end of a long and painful hook and you idiots are missing the good stuff or do we have to keep yelling?
Almost missed it. Damn, Barney Frank, you are a clever bastard, aren't you?
-- For all its heft, the bill doesn’t once mention the words “too-big-to-fail,” the main issue confronting the financial system. Admitting you have a problem, as any 12- stepper knows, is the crucial first step toward recovery.
-- Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes in the Senate’s health-care bill look minuscule.
Again, what is "reform"? We better define it and quick or else this asshat is going to do it for us.
Careful what you wish for, America, if you go hoisting the flaming pitchforks at the wrong people, pricks like this are going to continue to pull these kinds of stunts while you're busy at AIG HQ or at some Socialist union healthcare rally.
Don't fucking miss this bouncing ball. We have one chance to get this right.