Quote:
Originally Posted by xoxoxoBruce
requoted: " Commercial banks that accept taxpayers' money should be compelled to accept tough new restrictions on credit card and banking fees, credit card interest rates and predatory credit practices. "
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Which commercial banks are accepting taxpayer money? Washington Mutual was driven into bankruptcy while WaMu executives were on a plane - unaware they had been removed. Investments banks are on the dole. But the big commercial banks - JP Morgan, Citigroup, Chase, Bank of America, Wachovia, etc - I don't believe any are taking taxpayer bailouts. But then they also had to conform to restrictions such as limited debt to equity ratios.
Hedge Funds. Are we still to see hedge funds come running for rescue? Auto loan companies might be struggling soon?
Commercial banks can be sold to foreigners who did not have financial people playing money games by purchasing deregulation and would be happy to own banks in America. After all, America that needs cash must sell assets to foreigners - government bonds, mortgage backed securities, companies, real estate - to pay for the eight year party.
Did you have a good time at the party?
Those were the days my friend.
We thought they'd never end.
... a song describing the roaring twenties. We did not have flappers. But we did have Britney Spears without underware and Paris Hilton taping sex. "This is the craziest party there would ever be ... Mama told me not to come...."