If we can't trust the bankers who created this mess to fix it

[underpants]

how come everyone now wants to believe every single financial "journalist" who either didn't see this coming or didn't report it?

:think:

I am not saying that we should trust the bankers I just think that people are being subjective in what is convenient to latch on to.
Just saying.

[leftofthedial]

1. Geithner not only trusts them

he wants to make sure we reward them as though they had been succeeding instead of failing.

I don't know why we trust any "journalist" about anything.

[MarjorieG]

2. Don't think correct to slam motive, trying to get toxic assets out without hysteria over failures.

CEOs, etc are beeing very reluctant to accept blame or change ways, but the admin. is trying, with pitchfork and threatening resinstatement of Glass Steagall language. We may have to change course, but trying with least crash and panic is worth trying.

[underpants]

3. Well they are going to be rewarded no matter how it is handled

at least the ownership will be. Whether they went with the S&L crisis model of the 80's and sold off the assets at a discount to the former owners or those with capital to buy them or do what they are doing now which is skip the government ownership step it was going to end up the same. The problem is what to do about the rank-and-file nuts-and-bolts members of the financial world--we can't just replace them. The top, yes we can replace them they are easily dispensable regardless of the "retention" of "talent" nonsense they are trying to sell.

I don't like it either but I recognize that it probably will work and it was the quickest way to get going again.

BTW_ the top execs COULD be prosecuted for clear violations of Sarbanes-Oxley but I am not holding my breath on that either. Especially since FASB pretty much signed off on all this on the Thursday.