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Politics : Ask Michael Burke
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To: BGR who wrote (71618)12/9/1999 10:24:00 AM
From: Freedom Fighter  Read Replies (1) of 132070
 
BGR,

Greenboy may have done the right thing last year during the credit market collapse, but he did the wrong thing in allowing it to develop in the first place. The timing of his actions (options expiration) also leads one to believe that they were specifically designed to help financial institutions that were holding losses at the expense of the people on the other side of those trades. That was blatant wealth transfer if true. Both common sense and the whispers from Wall St. say that is the case.

There is no doubt that this sort of stuff encourages further recklessness by Wall St. that ultimately comes out of the hide of taxpayers either directly (bailouts) or indirectly.

I can't imagine how anyone but Wall St. could think this is a good arrangement for the general public.

Wayne
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