Prediction: Before the rooster crows another 60 times, BP will be seeking a government bailout. If you thought the Wall Street bailout debate was nasty, wait until you see the BP bailout debate. We will be told that British Petroleum is too big to fail.
In the 1980s there was a banking crisis in the US caused by fraud in the Savings & Loan industry. How does today’s crisis compare? Twice as big, five times as big, ten times as big? Try 100 times bigger.
How did it happen? The people at the top of the biggest financial institutions were total crooks. Not a theory. A reality.
Where is the Bailout Bill money going? You might be a little surprised – and a little disgusted to find out what banks are doing with the bailout money provided courtesy of the American taxpayer.
