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Politics : BuSab
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To: Alan Smithee who wrote (2339)10/22/2009 9:39:50 PM
From: Jorj X Mckie  Read Replies (1) of 23934
 
and I think it is a pretty effective way to kill the financial industry altogether.

Where the execs are getting all the blame, there is a lot of culpability in Washington DC. The repeal of glass-steagall and then the "nudging" to give home loans to people who quite simply shouldn't have been given a loan were big contributors.

If the financial industry execs have to take a pay cut, then so should the idiots in DC who facilitated the bad behavior.

But then it boils down to this, how do we expect to entice talent to the industry if they know that the federal government can step in and take their pay.

when you consider the way in which contract law was completed discarded with the auto industry secured investors, why would anyone trust a contract with the federal government?
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