Feb. 6, 2006, on this blog: Bad bankers lose money II
The bankruptcy legislation signed into law by President Bush last year should have sent a clear signal to shareholders of the banks that lobbied for that bill.
Why would these banks want or need such a law? Only one reason: They know they’ve built a house of cards and they hope against hope that the government will save their butts by somehow keeping the whole thing from toppling.
Ad-Free & Subscriber Log-In