Wednesday, September 24, 2008

Banking expert agrees - the bailout is not necessary

Banking expert Bert Ely: "I have run the numbers looking at the capacity of the industry to pay the tab. Assuming that bank insolvency losses don't get way out of line, which I don't think they will, then the industry can handle it. It's not going to be cheap, but the banks can handle it and clean up their own mess."

Read the whole interview here: http://us1.institutionalriskanalytics.com/pub/IRAMain.asp

Bad regulations got us into this mess, congress is about to make a bad problem even worse with a bailout of Paulson's buddies on wall street.  This monstrosity can still be stopped.

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