CNBC's Rick Santelli may have got it right when he commented about the proposed new tax on the largest US banks which received TARP assistance, "It's a little like throwing red meat in front of a bunch of lions, then ripping their stomachs open to get the meat."
What would have happened had the American taxpayer refused to cough up billions of dollars to bail out the biggest offenders of basic economic common sense? Who was watching the hen house as the CEOs of the "too-big-to-fail'' lined their own pockets with bonuses, corporate jets and private excess at the reckless and irresponsible expense of their depositors and shareholders?
