John Stossel Fox Business 01-07-10 Atlas Shrugged 1 of 6

John Stossel on Fox Business Channel. Jan 7, 2010. Atlas Shrugged Special.
John Allison of BB&T Bank, analysts from various think tanks and Nick Gillespie of Reason Magazine are among the numerous guests who discuss their take on the book and why they believe so many are reading it and drawing parallels to the overtaxing, over-regulating, suffocating government policies being passed today which Rand prophetically wrote about in Atlas Shrugged, her Magnum Opus novel that came out in 1957.

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[wangsta25]

BB&T accepted 3.1 billion dollars from the TARP bailout. John Allison is a parasite living off the government tit.

[PenguinProseMedia]

@wangsta25

BB&T was FORCED--along with every other mega bank--to take TARP.

[Sexisttroll]

Regulation is what caused the collapse. 1. the FDIC is the major source of moral hazard among banks. it simply says, we will bail out your depositors no matter what. 2. the CRA or community reinvestment act basically says loan money to poor people with bad credit for social justice. 3. the GSEs fannie mae and freddie mac. the value of their mortgages was backed by the government this made hold less capital to back up their mortgages that when sold they became toxic assets...

[mason72518]

@wangsta25 BBT was forced to take money, and was one of the first banks (if not the first) to pay the money back. When they did the taxpayer, comprised mostly of 1%ers, made a profit on the loan.

[mrrobotica]

@wangsta25 No more a parasite than Dagny for having her competitor forced out of business against her will.

[notengonickcojones]

'stupid rules' and the face of Bush showed on the screen... LOL.

[notengonickcojones]

The banker is right, but banks and goverment are very related... curious.

[sissyfist]

Stossel is a complete joke...what regulation exactly do bankers suffer under? What horrible tax burden do the best and brightest (the rich) suffer under. The banks lobbied for less rules and gave us dirivatives...stossel and that banker need to stfu.