We’ll probably not agree then - as far as I’ve been able to tell GS sent the message to banks that it was just fine to gamble with the money of others.
It’s no different than the Great Depression, a different generation of bankers, but the same impulses - GAMBLE LIKE HELL, to make that slightly higher return.
As much as I believe in a free market, these people are UNCONTROLLABLE and will keep proving it OVER and OVER.
Oh, did I mention the Savings and Load debacle from the 80s...once again, the feds took their eye off these people and they threw money were they KNEW they would never get a return (Whitewater, Arkansas, for example).
I know. They went out and started offering mortgages. Although I'm pretty sure they offered mortgages under GS too.
Oh, did I mention the Savings and Load debacle from the 80s...once again, the feds took their eye off these people and they threw money were they KNEW they would never get a return
I'm pretty sure they try to make a return on every loan or investment they make.