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Scary if true
Message
From
14/05/2009 19:40:28
John Ryan
Captain-Cooker Appreciation Society
Taumata Whakatangi ..., New Zealand
 
 
General information
Forum:
Finances
Category:
Budget
Title:
Miscellaneous
Thread ID:
01393480
Message ID:
01400009
Views:
79
Didn't take long for the evidence to appear.

OK, but in that article the only "evidence" that they overstepped the mark is an allegation by Judicial Watch President Tom Fitton. He may well be right, but his saying so isn't actually enough to convince somebody who hasn't already made up their mind. Maybe there's more to come.

In the meantime, at least one of those banks still is undercapitalized and plans to dilute shareholder worth to meet the requirements. As for the rest...well, start with Goldman Sachs: without the billions they scooped from the AIG bailout, they were dead. Work it through and it's clear that only government intervention saved these banks. ALL of them. And now some of them want to lose their savior-shareholder which seems ungrateful but is fair enough if there are 2 willing parties.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us.
"
-- Shakespeare: Coriolanus, Act 1, scene 1
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