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Giant Banks Are Trying to Make Bailouts Permanent

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Washington’s Blog
Thursday, Dec 10th, 2009

According to the following Democratic and Republican congress members, economists, financial experts and journalists, the “too big to fails” (with help from bank-friendly voices in Congress) are trying to make the bailouts permanent:

  • Congressman Brad Sherman, who serves on the House Financial Services Committee, and was formerly an accountant, and other Democrats in Congress
  • Congressman Spencer Bachus, the ranking Republican on the House Financial Services Committee, and other Republicans in Congress
  • Peter Wallison, financial policy study analyst at the American Enterprise Institute

Unless we break up the too big to fails, they will again make speculative gambles that drive them into insolvency (as they have again and again), and the government will bail them out over and over – perhaps secretly – sending the American taxpayers the tab (through taxes or inflation).

This article was posted: Thursday, December 10, 2009 at 5:00 am

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