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Thursday, June 18, 2009
The US government has announced a major reform of banking regulation to prevent future financial crises. Wall Street traders have today crapped their pants in response.
The overhaul will require big banks to put more money aside against future fuckups and to curb excessive theft and larceny.
Consumers will get a special agency to offer a noose or a cyanide pill when they realise they can't pay their mortgages and credit cards.
In outlining the reforms, President Barack Obama described them as the biggest smackdown on bankers since the 1930s.
"We are gonna kick your asses into a period of sustained economic growth. You motherfuckers laid this shit, and now we are gonna rub your faces in it," he said. "Greenback, dough, bread, notes - it's all gone."
The president then went into a nuanced and complex description on the sub-prime mortgage crisis, its root causes and potential legacy. The White House reporters responded with a barrage of questions about Malia and Sasha's sports prowess at school.