Bankers party like it's still 2006 -- with your money
Here's what the bankers will have to look forward to:
- a luxurious riverboat cruise
- a historical mansion tour
- a roaring 1920s big band gala
- celebrity appearances by Newt Gingrich & George Will
Gingrich is a strange choice to speak at the ABA party because he was, to his credit, a vocal opponent of the bailouts. Back in September of 2008, he was asked about the TARP plan on NPR and provided a surprisingly candid answer: "Well, I think you have a Goldman Sachs chief of staff to the president and the Goldman Sachs secretary of the Treasury. And they convinced the president that the American people ought to send $700 billion to Wall Street, which I think is a very, very bad idea, and I would argue is a very un-Republican idea. I don't understand what they think they're doing."
And yet now he's speaking at a conference for an organization that lobbied for the bailout -- and against regulation to prevent future financial disasters.
Worse? The money that he'll be paid for speaking will come -- in a distant sort of way -- out of the very bailout package that he so vocally-opposed. Everyone has his price, apparently.