The Occasional Observer

So the current plan being kicked around now would involve creating a "bad bank" that would buy up all the troubled assets from current banks, and this bank would be jointly owned by the government (that is, you and me) and the banks.

Here's my question. In your line of work, if you had presided over such a debacle of mismanagement that it resulted in the loss of billions of dollars for your company, thousands of jobs, and a complete economic collapse, would you still have your job? I know I wouldn't. My ass would be fired. Therefore, I am in favor that any bank that requires bailout money or needs to offload their troubled assets to the public should only be allowed to do so if their CEO resigns and their board is replaced.

I know this is not really ideal free-market capitalism, but then again neither are government handouts and taxpayers paying the cost for poor management.

Thoughts?