Alan Grayson: Is there any way to save the system other than showering taxpayer money on banks?

This is from a March 5, 2009 Financial Services subcommittee hearing on 'systemic risk'.

The witnesses are:

Ms. Orice Williams, Director, Financial Markets and Community Investment, Government Accountability Office

The Honorable Richard H. Baker, President and Chief Executive Officer, Managed Funds Association

The Honorable Steve Bartlett, President and Chief Executive Officer, The Financial Services Roundtable

Dr. Therese Vaughan, Chief Executive Officer, National Association of Insurance Commissioners

Mr. Robert A. DiMuccio, President and Chief Executive Officer, Amica Mutual Group

Mr. T. Timothy Ryan, Jr., President and Chief Executive Officer, Securities Industry and Financial Markets Association

Category:

News & Politics

Tags:

• Alan
• Grayson
• banks
• TARP
• bailout

[autobotguy]

I'm tell you guys, they should have used the trickle-up theory. Cut a check of $15,000 for every legal adult over the age of 18 who makes under $50000 per year . Weather they spend the money or save the money, it ends out in the banks anyways and practically everyone would be debt free! Seems like a good enough plan to me!

[cjaneWAIL]

It seems that one of the answers Mr. Grayson is looking for may be that the institutions should be allowed to fail in the way millions of other small banks and businesses across the country are allowed to fail every year, based on the free market economy this country participates in.

[doctorserpiente1991]

Richard hugh Baker is an REPTILIAN,HE IS NOT HUMAN

[PazGuerro]

@cjaneWAIL

This country has had free markets for decades.......

[Shutterbug1000]

Grayson is a disgrace! Liar!!!!!!!!!!

[TehFlamingLipz]

@FSUSW15009

Quote belongs to Matt Taibbi, from Griftopia. Excellent book on the mortage crisis btw

[FSUSW15009]

@TehFlamingLipz Well put. I'm stealing this :)

[deeppurple28]

I hope they hang Bush & Cheney Co. for war crimes!

[pretorious700]

scumbag bankers-liars and obfuscators

[oakwoodx88]

Now that he is free agent, perhaps Grayson will be even more dangerous. I'd like to see a Grayson podcast, or YT channel. Away from restrictions of congress maybe we can hear how he really feels

[newdimensionfilms]

@autobotguy

But but but but but but, that's SOCIALISM!!!!1!

I heard on the TV that's bad!

[griesrt]

@autobotguy wouldn't even cover half of what I owe. lol