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This article and video has an interview, along these same lines, with the head of the US Chanber of Commerce. Aggressive interviewer there. About time someone got aggressive on the side of taxpayers who don't want to bail out "too big to fail" banks repeatedly.

 

http://www.huffingtonpost.com/2009/10/14/d...r_n_320397.html

 

Wow! That interview is a keeper.

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This article and video has an interview, along these same lines, with the head of the US Chanber of Commerce. Aggressive interviewer there. About time someone got aggressive on the side of taxpayers who don't want to bail out "too big to fail" banks repeatedly.

 

http://www.huffingtonpost.com/2009/10/14/d...r_n_320397.html

 

 

It is highly probable that Uncle Sam directly bailing out banks and corporations is a thing of the past. It will be the banks bailing out Uncle Sam in the future. Even I thought I was crazy 6 or 7 years ago when I said the paper of the banking giants would be yielding under Treasuries someday. It still seems crazy in a way but that is the intended path. Maybe we get there maybe we don't and the results might seem subtle to most when it happens.

 

One way is the Supreme Court is going to let Skilling off by saying essentially he wasn't personally responsible for any of Enron's mess. At least no criminally liable. In other cases they have been and will continue to find that corporations are not responsible for the depredations of their employees. Throw in the immanent go ahead for unlimited corporate 'campaign' money and maybe you can see where we are going.

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It is highly probable that Uncle Sam directly bailing out banks and corporations is a thing of the past. It will be the banks bailing out Uncle Sam in the future. Even I thought I was crazy 6 or 7 years ago when I said the paper of the banking giants would be yielding under Treasuries. It still seems crazy in a way but that is the intended path. Maybe we get there maybe we don't and the results might seem subtle to most when it happens.

 

If the banks continue to speculate recklessly, with little enforced meaningful regulation to restrain them from doing so, and taxpayers expected to bail them out each time, they certainly will not be there to bail out Uncle Sam when needed.

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I'm starting to figure that the markets will not go down until the House and Senate start to seriously tackle legistlation to regulate the financial industry.....Manipulation at it's finest! <_<

Do you mean that all the securities laws passed around 1933 and then repealed about a decade ago should be reinstated?

 

While that is certainly a good start, we would then also need an agency to enforce those and other securities laws.

 

None of this is rocket science and much is already in place.

 

Of course how would all those people on Wall Street get their 20 percent increases in pay? We all know what happened to those who advertised "We earn it."

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Well, here's someone with a new idea on how to deal with the banks that caused the economic crisis:

 

Waterboard JP Morgan and The Mortgage Bankers Assn

 

"How to give an economics writer a coronary:

 

Recommend something that has been done twice before, and both times led to disaster, including being a major contributor to The Great Depression.

 

Well guess what: JP Morgan and the other banks are doing exactly that."

 

http://market-ticker.denninger.net/archive...nkers-Assn.html

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