by Michael Covel
Daily Reckoning
Imagine for a moment some congressman in a bad suit pitching the next exciting stimulus program…
He proposes paying for Wall Street’s repeated failed bets off the backs of working class retirees.
That’s right, he wants to transfer hundreds of billions from the bank accounts of retirees directly to Wall Street’s balance sheets each year for the next seven years.
What would happen to that politician if he made such a proposal?