Monday, May 21, 2012

Does the Chamber of Commerce CEO Recall the S&L Crisis?

Tom Donohue has a similar view as Mitt Romney on the recent JPMorgan fiasco:
The first government to help the banks was George Washington, and ever since, every time they do it, they make usurious amounts of money. And the government has got tons of money back from everything they did through the TARP funds and now they were sort of a little chagrinned to say they’re making a lot of money on the AIG deal.
And I thought taxpayers were out over $160 billion bailing out those S&Ls and commercial banks back in the 1980’s. Of course, the government did assist the US automobile sector and financially did OK with that deal. Funny thing – some folks like Mitt Romney thought that was a bad idea. I guess the Chamber of Commerce thinks lemon socialism is fine and dandy for the financial sector even without regulation. Ahem!

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