Missing the Point: We are not trying to stop Bankers from failing [View All]

[OHdem10]

WE ARE ESTABLISHING A WAY FOR THE BIG BANKS TO FAIL IF
THEY CHOOSE TO BE TOO RISKY. They can fail but TaxPayers
will not bail them out. They are on their own. We have
a plan on how to handle the failure keeping it from
spreading to other banks.

We are separating Investment Banks from Commercial Banks
so Mainstreet will not be hurt if one bank fails. Taxpayer
Money will not be at risk as it was in the recent crisis.

Common Sense: Every Law is made to be broken. We cannot
develop a system so airtight that no bank will fail. Nor
do we want to. Totally stifle the system. You must
assume there will be some high flyers and risk takers who
will go over the limits. The objective is to have enough
regulations that reasonable people can operate, make money
take risks but not dangerous risks. At the same time you
have to assume some people will push the limits and go over.
Therefore, you develop a system which you can protect the
American People and the the banks who do not play fast and loose.

Every Media person starts with the supposition that this
Financial Reform Bill is to prevent Banks from failing.
This of course gives the Republican Pets the door to criticize.

Has no one listened to any of Geithner's comments.
Wrong.