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Bank of America is trading at about 40% of its peak, and Citigroup has crawled all the way back up to...ONE EIGHTH of its peak.
Countrywide, Merrill, Bear Sterns, and Lehman are not even in existence anymore.
Give? Give? There was no "give." All there was the imposition of preferred stock issuance with extortionate terms in favor of the government. How is it a GIFT when every penny plus huge interest (and profit on warrants, in many cases) came back to the government?
If I give you a million dollars and you give me back $1.2 million dollars, and you think that is a gift to you, I'm putting you on my Christmas list.
One area of agreement: lack of prosecution of criminals. After the S&L crisis more than thirty years ago, a thousand people went to jail. You are spot-on about that. But please stop spreading ignorant Warrenisms about the big banks. It demeans you.
It is a gift because they should have lost it all....and their future along with it. And they would have but for the bailouts.
This kind of stance is why Romney lost....and why those like him will continue to lose. Financial manipulators have squandered all credibility with the American people and, if they ever had a shred of goodwill, it is gone. The age of an American landscape polluted with a Gordon Gecko on every corner was ushered in during the Reagan years and the people have had quite enough. It took 30 years too long to get their attention, but from this point on Big Money is on the run from the wrath of the the great majority who matter in this country.
More and more are even waking up to the fact that this is not a partisan matter. I'm as conservative as they come, but I'm not a liar and a thief and have no tolerance for those who are.
If we did things right most major players in these banks would have been unemployed and or in prison. Warren does have the problem that her party did nothing to bring any of this about. She blames it all on "regulators". No, the administration should have led the way with the charges.
If we did things right most major players in these banks would have been unemployed and or in prison. Warren does have the problem that her party did nothing to bring any of this about. She blames it all on "regulators". No, the administration should have led the way with the charges.
All they did was go after their taste.
As I said, this is not a partisan matter. And people are fed up with the "parties" anyway.
The leader who will successfully bring us out of this sad period will not be encumbered by the history or the baggage of either party, but will instead forge ahead with with the strength of their own convictions. The people will listen to and support a person of that rare courage.
Neither major party is worth trading a stick of gum for. That's not where our future lies, if there is to be one worth having.
As I said, this is not a partisan matter. And people are fed up with the "parties" anyway.
Seems they aren't.
Quote:
The leader who will successfully bring us out of this sad period will not be encumbered by the history or the baggage of either party, but will instead forge ahead with with the strength of their own convictions. The people will listen to and support a person of that rare courage.
Neither major party is worth trading a stick of gum for. That's not where our future lies, if there is to be one worth having.
I'm waiting.
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