TJB

Warren's (Ridiculous) Prescription for Banks: Wipe Out Shareholders, Fire CEOs

Maybe several of these banks did not ask for TARP money. But they didn't turn down the bailout by proxy from AIG. The last time I checked Credit Default Swap counterparties are not supposed to be federally insured. The mismanagement of these firms almost created a global catastrophe, and the public's growing suspicion of Goldman Sach's and Morgan Stanley's manipulation of and profiteering in the oil market (to bankrupt Semgroup Holdings amongst other things), not to mention suspicous involvement in the demise of Lehman Bros., lends creedence to the argurment that a complete house cleaning is in order. Then maybe the public will begin to trust the U. S. financial system again.