"I was a partner in a financial firm during the last financial
crisis. We saw it coming, warned our clients, and even made some
money off of it. We required no bailout and would not have had the
pull in Washington to get one if we had. We did all the right
things, and what happened? Our bailed out competitors, having been
annointed with the "Too Big To Fail" label, had a much easier time
keeping customers and recruiting brokers, and we had a much harder
time because we had no implicit backing from the government. That's
the kind of cost you never hear about with bailouts, and its always
borne by people who aren't at fault and did the smart, responsible
things."
Keeping in line with this, the U.S. government then turned around, as if they didn't mangle their conception of fairness enough, and asked responsible home owners to bail out the reckless ones.
Oof.
Keeping in line with this, the U.S. government then turned around, as if they didn't mangle their conception of fairness enough, and asked responsible home owners to bail out the reckless ones.
Oof.
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