Posted on 05/05/2016 8:25:41 AM PDT by Sean_Anthony
The Big Short: As The Big Short is short on reality, Big Government is short on accountability
If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it.—Ronald Reagan
Enter Dodd Frank: legislation named after Democrats’ Christopher Dodd and Barney Frank, which enacted 2,300 pages of banking regulations. What could have possibly gone wrong with 2,300 pages of new government regulations on banks? This:
The Big Short was short on reality? Hardly.
It was no fiction. Our financial system is every bit as corrupt and full of rent-seeking as our political system is. They have, in many ways, merged into one entity, where the government allows the TBTF institutions to get away with breaking any law they like, and in return those institutions flood the system with campaign dollars.
Tinkering with banking regulations brings in BIG CAMPAIGN DONATIONS... Every little tweak of the regulations are worth millions of dollars to someone - and BOTH sides pony up to buy government officials..
Shaking the Banking Money Tree works for BOTH parties... Cash comes rolling in...
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