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Straight Talk on Wall Street and the Bailout - Finally

From the Washington Post:
Wall Street is not pleased.

Hunkered-down executives and hyperactive traders were more than a little disappointed with what they heard from our straight-shooting new Treasury secretary as he unveiled his plans for Bank Bailout 2.0.

Not enough clarity, they complained. Still no light at the end of the tunnel, bemoaned others. Like spoiled, petulant children, they demonstrated their dissatisfaction by driving stock prices down another 5 percent.

By now, I hope you've learned enough not to be taken in by the self-serving floor patter. These guys won't be happy until the government agrees to relieve them of every last one of their lousy loans and investments at inflated prices, recapitalize every major bank and brokerage and insurance company on sweetheart terms and restore them to the glory days, so they can once again earn inflated profits and obscene pay packages by screwing over their customers and their shareholders.

For the Wall Street wise guys, bailout politics is just another game to be played, another market to be manipulated, another set of risks to be arbitraged.
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2 comments:

  1. I swear, I won't rest until at least half these men give the money back and sit inside a cell for no less than the number of months that I am years old and that is a lot

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  2. Thanks, Kelly. I need to know the national media is watching this bailout closely and I need examples of healthy recovery.

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