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“Look, the main concern here today is Geithner’s comments that some banks are going to need a lot more capital,” Pisani said. “And for everybody who says why haven’t they fired anymore bank CEOs yet – why hasn’t the government done it, wait – they’re going to.”
Originally posted by Rockstrongo37
But what you need to remember is that many institutions didn’t want the bail outs and were pressured to take them, and now we can see why they were pressured to accept the generosity of our government. Also, this move by the current administration is the first time in history when a sitting president has done such a thing.
Originally posted by vor78
reply to post by Rockstrongo37
What did anyone expect? Did anyone thing that the government handed out this money from the goodness of their hearts? Yeah right. This was a power-grab all along and this particular government is digging its claws into private industry faster than I ever thought possible.
Originally posted by jam321
reply to post by mybigunit
I agree with a lot of what you said. However, when a lot of these companies got their first bailout, it was based on the terms congress and the treasury laid out. Everything was done by the books. Then the companies started spending money on things that maybe they shouldn't have, but under the terms it was a legal transaction.
Then suddenly it turned to outrage for ordinary Americans and politicians jumped on the bandwagon. I promise you that IF Americans hadn't spoken out Congress would have never made such a big fuss over.
Then politicians started trashing certain companies/people, making threats, calling for lawsuits, telling CEO's to resign etc. etc. This is where I draw the line.
It is one thing for government to lay down all its stipulation beforehand, but to keep changing the rules of the game as time goes on is ludicrous.
The government should put it all in one neat package and any company that takes the money has to live by those stipulations. IMO, the government is wrong to harass, target, bully, or threaten any company because of their own incompetence.