Bailout a Boon for Bankers
Posted in Main Blog (All Posts) on January 19th, 2009 5:40 am by HL
So, the government forks over a ton of money to flailing banks and, naturally, their customers (i.e., taxpayers) might expect to gain something from this helpful transaction as well, right? Guess again, customers.
The New York Times:
At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of Wall Street analysts and explained how his bank intended to use its $300 million in federal bailout money.
“Make more loans?” Mr. Hope said. “We’re not going to change our business model or our credit policies to accommodate the needs of the public sector as they see it to have us make more loans.”
Related Entries
- January 18, 2009 Congress Sings the Bailout Blues
- January 18, 2009 ‘Anything Is Possible’
- January 17, 2009 Bush’s PR Blitz Fails to Move a Disapproving Public
- January 16, 2009 ‘Left, Right & Center’: Bye-Bye Bush; Bailout Mania
- January 16, 2009 Holder States the Obvious
Peace Is in the Eye of the Beholder
I do not like Hamas. I detest religious fundamentalism and the use of suicide bombers. I find the group’s anti-Semitism and ruthless silencing of internal Palestinian opponents repugnant. The rocket attacks on Israeli civilians are a war crime. But this does not negate the legitimacy of Palestinian resistance to the long Israeli siege and occupation of Gaza.
Related Entries
- January 18, 2009 ‘Anything Is Possible’
- January 16, 2009 ‘Left, Right & Center’: Bye-Bye Bush; Bailout Mania
- January 16, 2009 Holder States the Obvious
- January 16, 2009 Israel’s Chemical Warfare?
- January 16, 2009 Christian Appy on ‘Mekong Diaries’
