lblanchard (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
lblanchard) wrote2009-03-18 12:34 pm
lblanchard) wrote2009-03-18 12:34 pm
Entry tags:
Legislate in haste, repent at leisure
There's some indication that the stoked-up anger at the AIG bonuses may blow back on an administration that ramrodded through the bailout legislation with the AIG bonus loophole in it less than 24 hours after the 1,000-plus page bill was made public.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXZwBisa10zk&refer=worldwide
There's a factoid rattling around in my head and I must chase up a citation. Said factoid says that some banks were strong-armed into signing on to the bailout even though they didn't need the funds, to keep "weak banks" from being stigmatized. Additionally, the bailout provides horrendous penalties for early paybacks.
Now we are looking at the prospect of all kinds of conditions being imposed, after the fact, on banks that accepted bailout funding, even those that didn't want that particular government cheese in the first place.
Seems to me that at the very least the clown club currently making our laws should afford the healthy banks the opportunity to give back the money and go about their business.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXZwBisa10zk&refer=worldwide
There's a factoid rattling around in my head and I must chase up a citation. Said factoid says that some banks were strong-armed into signing on to the bailout even though they didn't need the funds, to keep "weak banks" from being stigmatized. Additionally, the bailout provides horrendous penalties for early paybacks.
Now we are looking at the prospect of all kinds of conditions being imposed, after the fact, on banks that accepted bailout funding, even those that didn't want that particular government cheese in the first place.
Seems to me that at the very least the clown club currently making our laws should afford the healthy banks the opportunity to give back the money and go about their business.