Trifling In The News
While I’m not sure how the content of the website will pan out, one thread I know I want to start is “Trifling In the News”.Edition 1:
Too Big to Fail, or Too Trifling for Oversight? (June 12, 2011)
Wherein the New York Times reports that businesses- hedge funds, insurance companies, etc- are hard at work lobbying Congress trying to prove that they are at no risk of fucking up the financial system circa 2008:
“What they are all hoping to avoid is being designated “systemically important” by a council of financial regulators. That would require them to face stricter federal oversight and keep more cash on hand, which they fear would erode profits.”
White men who screwed up the world, making sure that they can still make money, and won’t get in trouble should they cause another financial collapse. Even better- Barney Frank defends them (cause his state is full of them. Hey Barney, your state is probably also full of MORE people who were screwed during the financial collapse. But hurting constituents < corporate finance money, right?)
Was Trifling Used Correctly?
Not in this case. The actions of the insurers are what is trifling indeed. They are too trifling to NOT have oversight!