The BOTTOM LINE is that Wall Street simply CANNOT BE TRUSTED to handle money responsibly. They had their chance and now our kids have another $3 TRILLION dollars (at least) in debt to show for it (by the way, just for reference, $3 Trillion is enough to buy about 12,000 B2 Bombers, the Air Force currently has a total of 21 B2s...it’s REAL MONEY). And beyond that, no one even a paid a price for that level of theft.
These people simply have to be REGULATED TO DEATH, or the same will happen again. And I say that as a free-market person - there are simply some areas that the free-market will not work in...or maybe it could, if we had a justice system like China’s, where these people would have been executed, but we don’t.
Hilariously hypocritical. Nice Nanny State philosophy there.
How about less regulation and some caveat emptor. No more taxpayer bailouts or government insurance for risky behaviour
You may have noticed, apparently not, that all these Bank Bailouts have come after GREATER AND GREATER regulation. Hows that working for you?
You've already gotten one answer to this tripe. But here are two more: the more that regulators regulate, the less competition there will be to the big banks. Second, the main reason for the banking excesses is failed Fed policy which basically consists of shoveling newly printed money into the biggest banks in hopes that it might trickle down to the rest of the economy.
No, it was the Democrats who strong armed banks and forced them to issue subprime loans. Then they expanded Fannie Mae so that the taxpayer would be liable for those loans.
Remember back in the day in Chicago Obama led a sit in to force Bank of America to agree to issue subprimes. Stuff like this was the root of the problem.
Geez, don't fall for it.
Really? Where did you get that figure?