Let’s see how “TRANSPARENT” they (The Gov) will be.
Do you remember a decade ago, the $700 billion Troubled Asset Relief Program during the last 2008 financial crisis sparked widespread political upheaval: It was seen as a bailout for big banks that protected investment bankers while regular workers suffered. And do you remember how the bailed out companies exec and staff made millions and millions, while the public had to file for bankruptcies.
This time around, the Federal Reserve, which resisted disclosing some borrowers during the financial crisis, says it will name names and more for each of its emergency lending facilities.
Let’s see how long this last. And lets’ see who will really make the big bang in getting Federal bailouts? I guarantee you you, it will not be the public.
“Greed is alive and well in American Corporate Governance”