One of the many reasons for opposing a bailout of Wall Street is that we would be bailing out the financiers of the political class. Let me bring the point home. My local congressmen, Brian Higgins, said he favors the bailout because he spoke with “local bankers.”
I’m not privy to which bankers but the most powerful man in Buffalo and the biggest donor is Robert Wilmers, president of M & T Bank. He is heavy donor to Brian Higgins.
Here is Wilmers pushing the bailout.
The best quotes:
“It’s not the bank’s fault that people borrowed money they can’t pay back.”
“If they’ve got $100,000 in any one bank, there’s no reason to be concerned, because that’s guaranteed by the U. S. government.”
And who guarantees the U. S. Government, Bob?
8:25 am on September 28, 2008
