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Rep. Grayson and Economists: How Do You Know When It's Too Big to Fail?

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Uploaded by on May 21, 2009

Economist Dean Baker, former IMF chief economist Simon Johnson, economist Jeff Sachs, and Heritage Foundation scholar David John discuss the Science of Insolvency in the Science and Technology Oversight and Investigations Subcommittee on Tuesday, May 19, 2009.

The hearing notice and witness statements are located here: http://science.house.gov/publications/hearings_markups_details.aspx?newsid=2465

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  • I like Mr. Grayson's idea of rewarding the smaller, responsible banks, and allowing the irrepsonsible banks TO be split up sold at fari market value on the open markets. The idea of rewarding predatory lending, mismanagement and downright irresponsiblity is completely corrupt. This was stated in a different video, not this one. The bailout fundamentally rewarded failure and cost all of us dearly.

  • Too Big To Fail should be changed to: Too Stupid to Operate. Here is a list of stupid idiots:

    1. Goldman Sachs

    2. JP Morgan

    3. Citigroup

    4. Bank of America

    5. AIG

    6. Wells Fargo

    7. American Express

    They're so stupid that it will cost taxpayers $23.7 Trillion to fix their $1.4 Quadrillion Derivative mess. Congress gave Goldman Sachs TARP funds of $10 Billion. Although, they paid the TARP back, they still got $12.8 Billion via the AIG bailout. Congress gave AIG the money, AIG paid out.

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  • *Duh Duh Dum Chsh*

  • @MrSalamander7

    they already are...

  • Nationalize the banks.

  • Another name for a regulation is a LAW. The banks want a lawless environment where everything is legal, thus they can never get in trouble for what they do.

  • Dean Baker is definitely a guy we want involved in discoveries or hearings such as this. He has been right on top of fall the financial and budget shenanigans and their probable and eventual effects for many years.

  • Keyseyian liars.

  • Yeah definitely.

    In the end there is no perfect system but then anything will do over this system which couldn't be further from perfect if it tried.

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