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View Diary: Obama Admin to Citigroup: "No Plane for You!"(UPDATED X3) (347 comments)

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  •  That would require enforcing anti-trust laws. Has (0+ / 0-)

    anyone even mentioned that possibility. I mean anyone that actually has the power to do it.

    To sin by silence when they should protest makes cowards of men~~ Abraham Lincoln

    by Tanya on Tue Jan 27, 2009 at 09:53:04 AM PST

    [ Parent ]

    •  They'd have to brush the dust off that law (1+ / 0-)
      Recommended by:

      The consolidation among the banks and brokerages, converting to holding companies, is truly scary.

      But once the bill became law on October 3, Henry Paulson's Treasury Department moved quickly on an entirely different front: Give bailout money to select banks to help them buy competitors. It was largely under the public radar, with only anonymous government officials acknowledging the strategy, CBS News investigative correspondent Sharyl Attkisson reports.

      During the hearing on Nov. 13, Sen. Chris Dodd, D-Conn., called it "confounding to me."

      Rep. Dennis Kucinich, D-Ohio, said it "breaks with congressional intent."

      But CBS News has learned the banking industry was clued-in from the start.

      Last night Dennis Kucinich was giving a speech on the House floor, fairly late in the evening, and talking about a situation with National Bank in Cleveland.  He claims that Treasury basically picked the winners and losers.  National City Bank had been operating for 167 years.  Both PNC and National City applied for bailout money.  PNC got money, National didn't, then PNC bought National.  4000 people in Cleveland were out of a job.

      Not a new story, of course, but a good one for illustration.

      "The true measure of a man is how he treats someone who can do him absolutely no good." --Samuel Johnson

      by joanneleon on Tue Jan 27, 2009 at 03:24:52 PM PST

      [ Parent ]

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