The villain here is the US Congress.
The victims are the taxpayers and the banks, for we are paying for Congress's blunders.
* * * * * J B K * * * * *
San Francisco
March 20 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said government bailouts of large financial firms are "unconscionable" and must be ended as part of a regulatory overhaul following the worst financial crisis since the 1930s.
"It is unconscionable that the fate of the world economy should be so closely tied to the fortunes of a relatively small number of giant financial firms," Bernanke said today in a speech in Orlando, Florida. "If we achieve nothing else in the wake of the crisis, we must ensure that we never again face such a situation."
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSeRHawrO2qw
