Sound Off!
02/11/11 Categories: Sound Off
Too Big to Be Allowed to Fail?
A Response to your Editorial posted 2/2/2011:
Dear Henry!
I completely agree with your analysis -- except it's too late to rein in the Big Banks. They've already spent the money on their bailouts, bonuses, expense accounts, etc., and left the taxpayers are on the hook for every penny.
In my humble opinion, this would never have happened if the Justice Department had done its job properly back in the 1980s during the Savings and Loan debacle, and publicly tried and convicted 4 of the Keating 5, then thrown them in jail for a nice long cooling off period...say 5-10 years!?
When the sleazy creeps at the Banks and on Wall Street found out that only 1 high profile bigshot was going to "do time," it was a clear signal: "Go for it, 'cause they won't do anything except slap us on the wrist."
A Response to your Editorial posted 2/2/2011:
Dear Henry!
I completely agree with your analysis -- except it's too late to rein in the Big Banks. They've already spent the money on their bailouts, bonuses, expense accounts, etc., and left the taxpayers are on the hook for every penny.
In my humble opinion, this would never have happened if the Justice Department had done its job properly back in the 1980s during the Savings and Loan debacle, and publicly tried and convicted 4 of the Keating 5, then thrown them in jail for a nice long cooling off period...say 5-10 years!?
When the sleazy creeps at the Banks and on Wall Street found out that only 1 high profile bigshot was going to "do time," it was a clear signal: "Go for it, 'cause they won't do anything except slap us on the wrist."
Leland Turner
xleland@yahoo.com
CA