Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Perhaps someone can explain to me why we need all these new laws all of a sudden to facilitate the bailouts?

I can understand why you can't necessarily know in advance which banks precisely will need to be bailed out. But if banking is such a vitally important strategic sector, then why is the safety net not put in place before the chips hit the table?

I mean, anybody with eyes and ears who hasn't been hiding under a rock on the dark side of the moon and maintained total radio silence should know that the banking sector can fail and can fail catastrophically. If for no other reason, then because the US has had at least one previous round of crisis over the past 12 months.

So why are laws being cobbled together in the last moment to cover an event that has been in the cards for the last twelve months at least?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Oct 1st, 2008 at 10:08:06 AM EST

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