I love Alan Grayson. Blue America endorsed him when nobody thought he had a chance in hell to get elected. And he’s taking the Hill by storm. If you want to understand the dynamic gripping Capitol Hill right now, it basically boils down to one question. Is there anything that can be done other than throw billions of dollars at banks? This is a Financial Services Committee hearing on how to fix the whole system (or in Washington-ese ‘systemic risk’).
Congressman Alan Grayson asks a number of financial services association directors this question, and most of them fumble around and filibuster the question. Until we find an answer, though, it’s billions and billions of taxpayer money thrown at bank CEOs. Don’t you just love that?