Wednesday, February 11, 2009

I'm With Bernie

From Sen. Bernie Sanders (I-VT): Why Not Fire Failed Tycoons?

At a Senate Budget Committee hearing, Senator Bernie Sanders (I-VT) challenged Treasury Secretary Timothy Geithner on why Wall Street chief executives, such as Goldman Sachs CEO Lloyd Blankfein, have been allowed to keep their jobs.

"You have a person who made hundreds of millions for himself and he led his institution and helped cause a great financial crisis. We have put as taxpayers $10 billion to bail him out and we have no say as to whether or not he will stay on the job?" Sanders asked Geithner.
"We're not going to fire the leadership?" an incredulous Sanders persisted. "We're going to keep these same guys who caused the crisis in power and who made huge sums of money?

"I think the American people -- if they're going to pour hundreds of billions of dollars into these institutions -- want a new slate of leadership."
What a novel idea! Fire people when they screw up! Of course, how many bosses fire themselves?

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