Michael Hiltzik hit the nail on the head with his critique of the banking industry's opposition to the "Volker Rule" to reform the banking industry. Banks want a "heads they win, tails the taxpayer loses" deal --so that when they make money, they keep it, but if they lose money, the taxpayer bails them out--but with no restrictions on how they wheel & deal on high risk investments -- like derivatives.
No comments:
Post a Comment