There is no way the US can cover all the bad bets of Wall Street, and I'm certain that is exactly what Wall Street has in mind. We must not forget that these companies we are emptying our Treasury for are Multi-National Companies, not American Companies.
The way this game goes is these mega corporations play the "How Dare You, Sir!" card when the US Government wants to regulate them in good times ... using their Multi-National status as a tool of blackmail, but when they screw the entire World Economy up they crawl like beggars back to the US Treasury and defiantly state "You HAVE to help us ... if you DON'T help us we will BLOW UP THE WORLD ECONOMY!!!"
Multi-National business can't have it both ways. The Taxpayers of the United States can't be rendered serfs to the World due to the irresponsible antics of some bad actors of the corporate world.
I think the Administration actually gets it. It's subtle, but I like what I am seeing from the Administration in terms of directly backing SBA loans that have been frozen and the recent trillion dollar allocation that bypasses the bankers entirely.
cont:
About Barack Obama
Read the Article at HuffingtonPost
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