Roubini Pans the Bailout as a "Disgrace and Ripoff"

Roubini Pans the Bailout as a "Disgrace and Ripoff" and Most People Agree

Sept 28: Something needs to be done because of the errors, deceptions, regulatory lapses, and mismanagement of the Bush and Clinton administrations which allowed the unbridled greed of Wall Street to bring the global economy to the brink of ruin.

The priority of this plan is to preserve the status quo. This will not work. This plan will fail and more money will be urged.

Building from the bottom up, protecting the savings of depositors is paramount while liquidating the prime actors in this colossal financial fraud. Balance must be returned to the economy. A simple bailout will not accomplish this.

Restoring the confidence of the public after 16 years of pathological deceit will not be easy.

The Democratic leadership has shown itself to be vacuous, unimaginative and mechanical; the Republicans are pigmen through and through.

Any approach that maintains Morgan Stanley and Goldman Sachs as major players in the banking industry is a disgrace.