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comment by thenewgreen
thenewgreen  ·  3846 days ago  ·  link  ·    ·  parent  ·  post: GooBing Detroit

You are right, the banks definitely came out ahead in those negotiations and shame on the government for not holding them more accountable and setting up more stringent guidelines for how liquid the money must be. That said, the banks missed out on a lot of future earnings from businesses they helped nail the coffin on. Perhaps a bit shortsighted. Therefore, in my opinion the anger directed at them is not misplaced.





b_b  ·  3846 days ago  ·  link  ·  

    Therefore, in my opinion the anger directed at them is not misplaced.

Oh don't get me wrong. I think they're leaches who deserve what waits for them in hell. My only point was that it's up to the government to protect the people. When you have the leadership of the Fed and Treasury completely populated by ex-Wall Streeters and both parties receiving more money from the financial sector that any other industry, then this is what you get. They're going to take as much ground as they can; we know that. It's up to the government to look out for our interests. In that, they failed miserably.