Yes, Banks Have No Shame
Submitted by Lisa Graves on
Joe Nocera of The New York Times asks "Have Banks No Shame?" in response to their opposition to new consumer protections proposed in the wake of the biggest bank bailout in history. In the piece, Nocera reports that Simon Baker, a former International Monetary Fund economist, calls the banks' opposition "unconscionable," stating:
“They can’t pay what they owe!” he began angrily. Then he paused, collected his thoughts and started over: “Tim Geithner saved them on terms extremely favorable to the banks. They should support all of his proposed reforms.”