We demand clawbacks from Goldman Sachs and the promise that the Federal Reserve will never again bailout the banks. Make a plan, Bernanke and Geithner, to wind down any bank that in the future threatens the financial system. You two should be working on a plan now--break up the banks, create a wind-down scheme for problem banks in the future and never again give any bank bailout money!
Dylan Ratigan does his magic trick, again--
View the video here
1 COMMENTS:
Fed's Hoenig Says United States Has "Deeply Undermined Free-Market Capitalism"
The Fed mutiny has arrived:
* HOENIG SAYS U.S. HAS `DEEPLY' UNDERMINED FREE-MARKET CAPITALISM
* HOENIG WARNS OF ESCALATING SERIES OF CRISES WITH RISING COSTS
* HOENIG: LARGE FINANCIAL FIRMS CAN EXPECT BAILOUTS IN FUTURE
* HOENIG SAYS BIG FINANCIAL FIRMS MUST NOT HOLD ECONOMY `HOSTAGE'
* HOENIG: LARGE FIRMS WERE `GAMING' CAPITAL STANDARDS PRE-CRISIS
* HOENIG:BIG FIRMS `HAVE SIGNIFICANT INCENTIVES' TO INCREASE RISK
* HOENIG: TOO-BIG-TO-FAIL FIRMS POSE `GREATEST RISK' TO ECONOMY
* HOENIG SAYS BIG FINANCIAL FIRMS ENJOY `HUGE' FUNDING ADVANTAGE
And the last one:
* FED'S HOENIG SAYS `HISTORY IS ON MY SIDE'
http://www.zerohedge.com/article/and-wow-feds-hoenig-says-united-states-has-deeply-undermined-free-market-capitalism
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