by Chris in Paris on
10/15/2010 05:20:00 PM ,
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I by now really feel ill to my belly. There is no way Congress - Democrats or Republicans - will have the backbone to include strings about bonuses because they ought to. It's going to be an additional cave together with the drained previous "there was no time" lie that they utilised the very last time. If anything,
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Wall Road does not deserve any aid,
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Pandora Rings, but that would not stop Washington from dealing dope towards the greatest addicts in the region. CNBC:The put-back crisis isn't pushed by economics. It truly is pushed by legal rights. And there’s simply zero probability that the politicians in Washington are planning to permit Bank of America or Citigroup or JP Morgan Chase fail since of a legal situation.
So here’s what I expect will happen. The lame duck session of Congress will pass a bill that essentially papers over the misdeeds of the banks that originated mortgage securities. Every member of Congress and every Senator who has been voted out of office will cast a vote for your bill. And the President will sign it.
Will the public be outraged? Probably. Fiscal bloggers will scream through the high heavens against an additional bailout of the banksters. Congress might try to create some cost for banks in exchange for your forgiveness,
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