Monday, March 29, 2010
Krugman defines the fight over financial reform
And even though he comes down on the side of those labeled "Punks", he is really for the good guys like you and me.
The only question is whether we’re going to regulate bankers so that they don’t abuse the privilege of government backing. And it’s that regulation — not future bailouts — that reform opponents are trying to block.Were it not for Fux and the radio hustlers, no one in their right mind would support the Banksters who trashed the economy and have worked so hard to steal Americans life savings.
So it’s the punks versus the plutocrats — those who want to rein in runaway banks, and bankers who want the freedom to put the economy at risk, freedom enhanced by the knowledge that taxpayers will bail them out in a crisis. Whatever they say, the fact is that people like Mr. Shelby are on the side of the plutocrats; the American people should be on the side of the punks, who are trying to protect their interests.
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