1 thought on “Penrose on Politics: Geithner's Stress Test”
WillyKsaid:
I, for one, really approve of the stress tests since they are the logical first step before good corrective action can be taken from an informed position (corrective action = probably some version of nationalization).
And to be even clearer, lots of “taxpayers” voted over and over again for the jerks who pushed almost total deregulation of the banks — so, while difficult, it is better that these taxpayers pay up now to fix the mess they permitted to occur before it gets lots worse. It is just sad that those of us who were appalled by the lack of control over the financial system will have to pay as well. But that is the way it is when we accept our communal obligations to do what we can to avert disaster.
I, for one, really approve of the stress tests since they are the logical first step before good corrective action can be taken from an informed position (corrective action = probably some version of nationalization).
And to be even clearer, lots of “taxpayers” voted over and over again for the jerks who pushed almost total deregulation of the banks — so, while difficult, it is better that these taxpayers pay up now to fix the mess they permitted to occur before it gets lots worse. It is just sad that those of us who were appalled by the lack of control over the financial system will have to pay as well. But that is the way it is when we accept our communal obligations to do what we can to avert disaster.