Sunday, March 21, 2010





The picture is of "Corky the Pig"... a piggy bank from the 50's. Federal Reserve Chairman Ben S. Bernanke, has some tough words for our nation's "piggy banks" that were "too big to fail."

Bloomberg news report
Bernanke Says Large Bank Bailouts ‘Unconscionable,’ Must End

By Steve Matthews and Phil Mattingly

March 21 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said government bailouts of big financial companies are “unconscionable” and must be ended as part of a regulatory overhaul following the worst financial crisis since the 1930s.

“It is unconscionable that the fate of the world economy should be so closely tied to the fortunes of a relatively small number of giant financial firms,” Bernanke said yesterday in a speech in Orlando, Florida. “If we achieve nothing else in the wake of the crisis, we must ensure that we never again face such a situation.” .....

Our government "bailed out" a number of "big" businesses... but not very many of the "little people" were bailed out... most have been "left-out to dry."

This is part of the reason for the skepticism toward our government right now... big business was bailed out from their poor business practices... and the rest of us?

I thought the left was all about the little man and against the power of big business?

Mr. Bernanke wants to scale down the protections of the big banks... maybe they will be a little more cautious... like Cordy... but I'm probably not going to hold my breath.

xtnyoda, shalomed

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