Wednesday, June 25, 2008

Can we call it the CSFB plan?

So, you recall when Credit Suisse bought First Boston, they renamed themselves 'CSFB,' to be palatable to the American people. After the invasion of Iraq, foreigners stopped caring how we felt, so in 2005, CSFB's foreign overlords decided to rerebrand themselves 'Credit Suisse.'

Banking lobbyists wrote a bill for a huge transfer of wealth from the American Taxpayer to their clients, which is their job. And it looks like it'll pass. But, I would ask that we stop calling it 'the Credit Suisse plan', and start calling it 'the CSFB plan.' We have to remember a time when America owned its own investment banks!

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