Stevieslaw:Tomorrow’s Headlines Today: Banks Urge Caution

With the Senate poised to approve the omnibus spending bill and B.O. ready to sign it, the major banks are already giving thanks to the representatives of the people for an outstanding Christmas gift. “The roll-back of the Dodd Frank Act, included in the current bill will go a long way toward precipitating another fiscal crisis,” A. Bev Law, bank spokesperson, said today. “But the public incorrectly assumes that the banking industry will be able to wreak unimaginable havoc on the economy overnight. This puts tremendous pressure on our financial institutions—staffed by the simple men and women of the 1/%. While the lack of oversight, incredible greed and mismanagement are certainly already in place, fiscal catastrophe will take time and the public must learn to be patient.”

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