Tuesday, June 29, 2010

Good news -- for banksters

Well here's a shock. After endlessly placating the Republicans and weakening the financial reform bill, two key Republicans are pulling their votes for it. Both Scott Brown and Susan Collins suddenly have severe doubts about whether they can support the bill because of fees that would be charged to the big banks. Who could have predicted that would happen? Much more reaction at Memeorandum.

Meanwhile, there's one sector showing job growth. Those same poor banksters who cry they would be ruined by kicking a little more in the federal treasury.
Firms are adding jobs for the first time in two years, rebuilding businesses cut during the financial crisis and offering guaranteed payouts to lure top bankers. In New York, 6,800 financial-industry positions were added from the end of February through May, the largest three-month increase since 2008, according to the New York State Department of Labor.
Assuming "guaranteed payouts" means more of those multi-million dollar bonuses. Via John Cole who remembers those not so long ago days when these same guys were threatening to "Go Galt" and take middle class jobs instead. Somebody remind me why we didn't let these firms go bankrupt in the first place?

[ Please contribute to my emergency $5.55 fundraiser if you can. Sad story here.]

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