2014-02-05

Voices Of The People Not Living In Derp

"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.

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