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The extension of credit facilities and the preferred stock purchases of the Federal Reserve and United States Treasury during the liquidity/financial crisis of 2008/2009 ("bailouts") were absolutely and ireffutably necessary and anyone who disagrees knows absolutely nothing about economics or the modern banking system. Wall Street helps fight inequality by charging the extremely wealthy high fees for menial unnecessarily complex work. Ask Thomas Piketty about this. "Bonuses" are nothing more than a slang term for variable compensation and there was nothing wrong with Wall Street's pay practices during the financial crisis. Having Fannie Mae and Freddie Mac in continuing conservatorship and remitting their profits to Treasury is probably for the best of the United States; a rare moment where congress' inertia pays off for the public. color has a new favorite as of 18:42 on Jun 17, 2014 |
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Jun 17, 2014 18:40
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| # ¿ Apr 26, 2024 07:59 |
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