Friday, March 28, 2008

Bear Stearns Nightmare

Why should we reward the risky, irresponsible behavior on Wall Street? Those fat cats up there on their high horses on the Federal Reserve Board and in the Bush Administration need to have a walk down the main streets of our decaying cities to see how real people live. The feds bailed out a corporation where the top CEO made a whopping forty million dollars last year. This bail-out is just plain, unadulterated stupidity or is it just business as usual?
Most of the present crisis in the investment banking and home mortgage lending arena is directly attributable to the legislation passed by William Jefferson Clinton in the 1990's that led to the deregulation of banking and Savings & Loans.

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