Why aren’t teabaggers fired up about socialized finances? Why do bankers keep getting more taxpayer protection?
A top White House economic adviser says the Obama administration’s proposed overhaul of financial rules preserves the policy of “too big to fail,” and could lead to future bailouts. Former Federal Reserve Chairman Paul Volcker said Thursday that by designating some companies as critical to the broader financial system, the plans create an expectation that those firms enjoy government backing in tough times. That implies those financial companies “will be sheltered by access to a federal safety net,” he said. From HuffPost
I wonder if it has anything to do with the revolving door between these institutions and major governmental policy positions?
This is not a democratic or republican issue. This smacks of the corporate takeover of our republic.
