Friday, September 16, 2005

Unscrupulous louts

Banks and Insurers Ask Government For Help With Loans, Spreading Risk

Money quote:
Bankers from the area devastated by Hurricane Katrina told Congress yesterday that they hold thousands of loans secured by buildings and businesses that no longer exist and urged lawmakers to help them out with regulatory flexibility, and possibly money.
And yes, boys and girls, the fine folks now demanding new laws and, perhaps, a taxpayer bailout, are the very same people who advocated for bankruptcy reform, and expressly refused to extend protection to those affected by natural disaster.

Reap the whirlwind, baby. Reap it.