Monday, July 20, 2009

Bye Bye Bankers

I've been reading an article about the TARP Inspector General's report. It seems that a lot of the banks haven't been making loans with the government bailout funds they got. They've been buying other banks, giving out bonuses, and generally misusing taxpayer dollars.

To hell with the whole too big to fail thing. It's time to let one or two of these super banks fail. Sure, there will be a god awful mess made, but I can't see any other way to make the "masters of the universe" listen. They should read a little history and realize that the economic system we have today isn't the same one that existed 200 years ago. Things change, and after a failure or two, we can move on and start breaking up Bank of America, Wells Fargo, Citigroup, and most importantly, Goldman Sachs. Like I said, things change, and you don't have to be an economist to know that we can't keep allowing a handful of financial institutions run roughshod over the world.

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