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A couple of bums fighting over the taxpayer's wallet...
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Andrew Frye of Bloomberg has a devestating piece out today that highlights testimony Warren Buffett gave to the Financial Crisis Inquiry Commission (FCIC) earlier in the year about how taxpayers will always be on the hook for Too-Big-To-Fail institutions. Buffett told the Commission:
- “You will always have institutions that are too big to fail, and sometimes they will fail. We still have them now. We’ll have them after your commission report.”
As Frye points out, this sits squarely at odds with assertions from the Obama administration that the Dodd-Frank financial reform bill ended TBTF once and for all. We've even got video proof from the Obankster himself.
Debt, Lies and Wall Street Bailouts...
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