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  • cabanker: 
  • Comments (20)
  Once I saw that the "big" bank's settled, I had no doubt that it was due to "political pressure". The individuals running the large banks are all smart people. I seriously doubt that OBama even had to pick up the phone. He had them all out for a meeting a few weeks ago after the AIG bonus scandel and discussed the need to "work together". If they go against the grain on any of the large restructurings (Chrystler, GM..), they'd be cutting off their own lifelines (TARP $, government backed bonds, stress test negotiations...).

  May 06 03:20 PM | Link | Reply
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  • Tricky: 
  • Comments (210)
  I believe the Obama terminology is "they took the opportunity to do the right thing"

  May 06 03:24 PM | Link | Reply
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  • Whippet: 
  • Comments (465)
  •  • Instablog (1)
  •  • StockTalk (1)
  It's moral hazard run amok, plain and simple- if you take public funds with no chagrin, what the hell? Might as well write off more losses, and get more money. The only ones to make "sacrifices" were the "evil" non-bailed out hedge funds and other private "rich greedy bastard" investors. Funny, I didn't know it was a "sacrifice" when you were threatened with IRS audits to capitulate...

  May 06 03:26 PM | Link | Reply