I mean it. Fuck WaMu, Wells Fargo, Citigroup, Morgan Stanley, Downey Savings and Loan, Bank of America, JP Morgan Chase - fuck 'em all. Let them all die - they've earned it.
Pull the props out, get the Fed's and the FHLB's money back.
Whatever bank dies, it deserved to.
Whatever bank lives, it derserved to.
Then, take the 700 Billion dollars and open new Banks under really strict regulation. With fractional lending, 700 Billion yields 7 Trillion of new credit. That should be plenty.
Oh yeah: catch Paulson, Bernanke, Bush, Cox, Dodd, Frank and hang them. Slowly. Especially that fuck Paulson.
(hat tip to "Nude" in comments ar Calculated Risk.)
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(UPDATE: For all I know, this could cause a global Depression. (That would be a bad thing, so something should be done. Just not the Paulson plan.) But I sure had fun writing it! )
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1 comment:
Bob - I think you are capturing some real sentiment in the country, but the old saw about not cutting off your nose to spite your face probably applies. A wholesale crash would wipe out the savings of a lot of people very close to retirement.
I could go with letting the banks and IBs go, but I am unwilling to throw the average citizens out with the bathwater. So I agree that some sort of government infusion of capital is needed.
Afterwards, I would like to see bank regulators wearing spiked collars with attack dogs posted in the main players offices continuously for about ten years.
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