Big US Banks Are So F___ing Outrageous!

4 02 2011

Ben Bernanke (Fed Chief) today lectures the Federal Government to get its budget in order. Yet most of the budget upheaval has come from US taxpayers bailing out the banks and the bank-induced recession’s hi unemployment bringing on a fall off in tax revenues. Jamie Diamond, head of JP Morgan Chase, says last week at Davos that his bank will move to another country if the US government regulates it anymore than it does.
Here, one of the most sane monetary economists who knows what is going on, Simon Johnson, former Chief Economist at the IMF and now teaching at MIT, lays out the utter insanity and hubris of the bankers who are ratting out our economy.