Wednesday, April 14, 2010

Poppycock!


First of all, we should congratulate anyone who has the confidence to use the word "poppycock" in a public forum and Senator Dodd has our thanks.

But secondly, the logic coming from Senate Minority Leader Mitch McConnell is completely ridiculous.  Many experts agree that Dodd's bill does not go far enough to deal with "too big to fail" megabanks, but no one is arguing that the bill either continues it or expands it, like McConnell says.

Yes, Washington was a part of the problem but not because we bailed the banks out.  Washington was a part of the financial collapse because there were no cops on the streets and the cops that were on the streets were paid for by the gangs!  Imagine if we didn't pay for our policemen but drug gangs did?  That's what happened with Wall Street.  There was no incentive to police, even a positive incentive to NOT police those financial crimes.

Anyone who had a 401K was robbed by Lehman, Goldman Sachs, Bank of America, CitiGroup and AIG.

As the comedienne Wanda Sykes so eloquently put, "A black man might steal what you have on you today, only the white man will steal your future."

Most reasonable people want more financial cops on the beat and rules to break up big banks the way the Federal Government has authority to break up small banks. If these guys want to play casino they can, but they shouldn't be able do it with taxpayer subsidized dollars.

Nuff said.

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