Word: bailout
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...Bailout Furor...
...states’ right-ers agitated by the mere idea of a National Tea Party Convention. Some want to form a third party, and others want to infiltrate the Grand Old Party. They are united by a dislike of President Obama, the debt, future tax increases, and the bank bailout, but currently little else...
...Allergic to Populism Shortly after Obama unveiled a $117 billion plan to tax the riskier liabilities of larger financial firms, Geithner hosted a dinner for bankers. A few of them grumbled about Big Government, class warfare and the unfairness of scapegoating financial institutions that already repaid their bailout money while GM and Chrysler keep hemorrhaging taxpayer cash. But one midsize-bank CEO suggested the tax was a reasonable surcharge on too-big-to-fail conglomerates that benefit from an implicit guarantee of federal help in a crisis. "If I fail, the FDIC shuts me down," he said. Then he gestured...
...naysayers are always going to be able to find a populist excuse to say nay. For example, some in both parties have turned to Fed-bashing, trying to strip the agency's regulatory powers and opposing Chairman Ben Bernanke's nomination for a second term. Who knows? In 2010, "Bailout Ben" could be just as potent a populist issue as "financial reform...
...responsible to bringing the economy to the brink,” said Stiglitz, who called the AIG bailout “unconscionable...