Posted: April 18th, 2010 12:01 PM ET
The Republicans are bent out of shape because the new financial reform bill allows for 'bailout fund.' Perhaps McConnell and Bohner (AKA Boner !) would like to roll back the FDIC as well.
The 'bailout fund' will work extremely similar to the FDIC concept, but, it bails out the banks instead. The difference is that depositors are not the focus. FDIC, as most adults in the USA know, provides insurance for depositors of banks. It has been used widely in the past. The funds in the FDIC was used to bailout the Savings and Loans during "H.W." years in the White House because Neil Bush had managed to push the S&Ls over the edge while Dad was in the White House.
But, the FDIC has paid depositors of hundreds (I don't think it ever reached a thousand. Maybe, but, I don't recall that as the truth.) of banks in the last Bush Money Scandal of 2008, that included Goldman Sachs' Paulson, then USA Treasury Secretary. In case folks forgot, they are REPUBLICANS. Corrupt. REPUBLICANS.
At any rate, the 'Bank Bailout Fund' will be accumulated by deposits to the fund by the banks themselves. I have no doubt as soon as the REPUBLICANS can get back a majority of power again, the same thing will happen when they rollback protections of consumers enough to allow a scouring of the new 'bailout fund.' The banks will 'play' to that end, no different than a gambler that can't find a bus ticket out of a casino.
The 'bailout fund' will work extremely similar to the FDIC concept, but, it bails out the banks instead. The difference is that depositors are not the focus. FDIC, as most adults in the USA know, provides insurance for depositors of banks. It has been used widely in the past. The funds in the FDIC was used to bailout the Savings and Loans during "H.W." years in the White House because Neil Bush had managed to push the S&Ls over the edge while Dad was in the White House.
But, the FDIC has paid depositors of hundreds (I don't think it ever reached a thousand. Maybe, but, I don't recall that as the truth.) of banks in the last Bush Money Scandal of 2008, that included Goldman Sachs' Paulson, then USA Treasury Secretary. In case folks forgot, they are REPUBLICANS. Corrupt. REPUBLICANS.
At any rate, the 'Bank Bailout Fund' will be accumulated by deposits to the fund by the banks themselves. I have no doubt as soon as the REPUBLICANS can get back a majority of power again, the same thing will happen when they rollback protections of consumers enough to allow a scouring of the new 'bailout fund.' The banks will 'play' to that end, no different than a gambler that can't find a bus ticket out of a casino.
