Tuesday, April 20, 2010

There's got to be a racial angle on bail outs . . .

Sorry, but I'm opposed to the Democrats' plans to "reform the financial system" or "hold Wall Street (duh-duh-duh-duhhhhh) accountable." Of course, there's no other reason than racial animosity for me to oppose this, right? Here's a great article on the subject. GetLiberty.org >> They Dare Not Call it a Bailout An excerpt:
To be certain, it is a bailout. And it perpetuates the moral hazard that causes the so-called “too big to fail” financial institutions to take risks they otherwise would not.

How? In part, the bill expressly includes a revolving $50 billion TARP-like fund designed to capitalize failing financial institutions that might otherwise be finding their way to bankruptcy court — where they belong. Republicans are calling it a "permanent bailout fund."

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