I've been watching some of the financial reform back and forth.Pretty dry stuff,but extremely important to our country.
Now,we were told that if Bush/Obama hadn't stepped in with the TARP bailouts that the financial industry would have imploded bringing down the global economy with it.We had banks that were too big to fail.Conclusion?-bailing out banks that are too big to fail is a good thing.
Today,we are told that Chris Dodd's financial reform bill is designed to prevent these banks from ever being bailed out again at the taxpayers expense.That it will be a foolproof way to prevent it from ever re-occurring.Conclusion?-bailing out banks that are too big to fail is a bad thing.
Here then is a simple question.If the Bush/Obama TARP bailouts are what saved the global economy from a meltdown,why would we now pass legislation to prevent us from saving it in the future?Just askin'.More to come...
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