|
I think Shakran is absolutely right. But, I think Obama using his bully-pulpit to loudly point out these excesses, and call them out for it, is the best he can do with the money that's already been given out. Congress was effectively railroaded into passing the TARP bill by the previous administration with few strings attached. They were told that fast action was required, and there wasn't 'time' to debate how to control this money. This was true, in a way - the faster you deal with something, the better. But when congress gave them the money, they turned around and handed it to the corporations with no strings (read: 'regulation', and we all know how the republicans hate regulation).
Now, Obama has an excellent argument for putting strings on the money that has yet to be given, and hopefully, will push for proper a regulatory framework for 'innovative' financial instruments. We'll see.
|