Quote of the Day, October 28th, 2008

October 28, 2008 |

"As long as the [financial] industry won their bets, they could pretend that they were acting on their own and had no need of the government. However, when they lost big, as they did with the collapse of the housing bubble, they had no choice but to go running to the government for help. Wall Street executives, who might complain about a government support check of a few thousand dollars for an unemployed single mother, suddenly were demanding hundreds of billions of dollars from the government to keep their banks from collapsing."

-Dean Baker