Wall Street Congratulates Washington: A Job Well Done
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Wall Street Congratulates Washington: A Job Well Done
By Dean Baker
New York Times columnist Thomas Friedman is well known for pretentious columns that consist of letters that he suggests some prominent person write. I licensed Friedman’s literary tool in order to present the following letter from the Wall Street CEOs to the political leadership in Washington.
Dear Friends:
We want you know how much we value the support of the leadership of both political parties in your efforts to ensure that we did not suffer from the crisis that we ourselves created. As you recall, back in the fall of 2008, our banks were flat on their backs. If you had not rushed to our rescue with trillions of dollars in loans and guarantees from the Fed and the Treasury at a time where no sane investor would talk to us, most of us would be among the unemployed today. Instead, our banks are hugely profitable and we’re happy to say that bonuses are again hitting record highs.
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