Liberty vs. Leviathan

Chronicling Liberty's battle against Leviathan

Punish the Prudent by Saving the Imprudent

At least one man is not taking it sitting down.  Bloomberg reports that John Allison, CEO of BB&T, says that…

Treasury “is totally dominated by Wall Street investment bankers” and “cannot be relied on to objectively assess” the impact of government policy on the financial industry

and

“There were a number of poorly managed institutions and poorly made financial decisions during the real estate boom,” Allison wrote. “It is important that any rules post-`rescue’ punish the poorly run institutions and not punish the well-run companies.”

Allison should know what he’s talking about.  BB&T stock “has risen 26 percent this year, the best showing in the 24-company KBW Bank Index.”

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2 Responses

  1. rjjrdq says:

    Gee, if I were a conspiracy theorist, I would say this was a scheme to transfer billions-maybe trillions of dollars of assets to a central government. I wouldn’t buy the argument that the brightest financial minds in the world are just a bunch of buffoons. *If* I were a cs.

    But that would never happen here, would it comrade?

  2. […] Allison, one of the few financial CEOs to run a profitable and sound business during the boom and take exception to the financial bailout during the bust in the fall of 2008. This paper provides a “common sense” and understandable outline of fundamental causes and […]

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