rrbatch

Are the Big Banks Gaming the Taxpayer?

Is it any surprise that the bankers are smarter than the bureaucrats?

The bankers work for their shareholders, not the taxpayers (except for AIG). If they (the bankers) have an opportunity to make money by arbitrage on a poorly-conceived PPIS, more power to them!

But I have an uncomfortable feeling that this will provoke a new round of "outrage" among the politicos, that greedy, money-grubbing businesspeople are again taking advantage of the "public servants" who conceive these misbegotten plans to "solve" the financial crisis that the bureaucrats and academics created.