CEOs from 8 bailed-out banks are heading to DC today to do a little sight-seeing, check out the museums, and suffer the faux outrage and tsk-tsking of the House Financial Services Committee. Expect a lot of stern questioning that might eventually lead to a non-binding resolution (but probably not).<\/p>\n
All this tough talk of more transparency has got the banks all riled up. In fact, Goldman Sachs and Morgan Stanley – beneficiaries of $10 Billion of our money – are so irked by all this ill treatment that they want to pay back that money as soon as possible<\/a>. Except, they don’t have the money to pay it back right now. But, boy-howdy, if they did<\/em><\/strong>, they’d sure show us<\/em><\/strong> for making them take our dirty money!<\/p>\n Otherwise, it’s another day where you probably don’t want to go online to see how your retirement fund is doing, what with the market taking another dump yesterday. Don’t worry, I’m sure Congress will bail you out, after which you can resent them for it, and threaten to pay them back (someday). Hey, just be grateful you’re not a member of the Carpenter’s Union, Local 747, who had their pension money invested in Bernie Madoff’s ponzi scheme<\/a>.<\/p>\n