Unfortunately the too big to fail banks have gotten bigger and control more of the economy since this bail out and the inadequate financial reform bill. We need to break these banks up, encourage community banks and get money in communities and out of Wall Street.
The Fed bailout shows why the Fed should not be a private corporation and needs to be reconfigured. It is silly for the government to give the power to create money to a corporation designed to protect the banks. They make the money then loan it to the banks for a small percentage, who loan it to the government at a larger percentage thereby putting the government (taxpayers) into big debt. It is a bizarre system that needs a total makeover.
And, in the future when industries receive this type of money from the taxpayers they need to put taxpayer representatives on their board of directors so tax payer money is used for a public good not personal profit. When corporations were invented by monarchies they always were designed to serve a public purpose. That has been lost in the quest for profit — often, short-term profit.
KZ
