You can't make this up. This is what happens when the Government Regulates Business.
"WASHINGTON – The Treasury Department's pay czar said Friday that 17 banks gave their top executives $1.6 billion in lavish payments while they were receiving billions of dollars in taxpayer-funded bailouts.
Kenneth Feinberg said he did not have the authority to ask the firms to repay the money that was handed out during the financial crisis. But he said they should develop new rules on compensation that would allow them to slash compensation payments in future crises."
Anyone see a problem here? The Federal Government gives away YOUR tax money to the Wealthy... pretends like they are going to crack down then just shrugs their shoulders and says "there is nothing we can do".
All that is going to happen with Financial Reform is you will pay higher bank fees, get less money for your savings and checking accounts and the Wealthy Bankers will keep bribing and buying the Regulators and Politicians.
Obama = FAIL
Dodd = FAIL
Frank = FAIL
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