This is the most important news that everyone should be focused on for hope that the near term regulatory changes being considered can be steered in the right direction. Volker’s medicine might be a little painful, but without it, the Administration’s current position of sustaining the derivative leveraging stands no hope of recovery from this type of situation which is another way of (i.e. criminally) looking at this.
I just hope I don’t acccidentally knock over THIS pitcher of martini’s after I pick myself, the chair and my copy of AIGs SEC filings up off the floor.
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My comment is not for this particular post. It’s the way I view not only this post but your entire site. KEEP UP THE GREAT WORK!!! Our tax dollars has already made these white collar criminals too wealthy already!
But why should they think any different? We’ve bailed out these people several times over the past century. They knew the taxpayers money would come to the rescue when they entered their ‘den of theives’.