November 1, 2008

U.S. warns banks that using bail-out money for pay and pensions to executives will be a criminal offence

"Using bail-out money for anything other than lending - such as paying bonuses or pensions to Wall Street executives - will be a criminal offence, the powerful chairman of the U.S. House of Representatives Financial Services Committee has said."

Will Congressman Frank carry through with this threat, or is this just political posturing?