Monday, April 26, 2010

Bailouts Remain The Problem, Not The Solution

Nicole Gelinas for Investors.com explains why the Dodd bill is a very unfunny joke:

The idea that the financial industry can pre-fund its next arbitrary bailout with $50 billion is a pleasant fiction. How much would an "orderly liquidation fund" have needed to stem investor panic starting in 2008? Try $20 trillion.

You can read the rest here.