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This is a bunch of crap! Pure propaganda.
Take the 1st one. The most important parts were repealed. Normal banks that hold your deposits were then allowed to get into things like MBS that they could otherwise not do before. Before the repeal then they could not act like investment banks. You could not mix Bank of America with Goldman sachs. They operated in two totally different ways. The first being virtually no risk with lower returns. And the 2nd being a Casino.
This was obviously written by someone with banker connections.
Anyway the proof is that everything went to H*ll immediately after it was repealed. The guys who wrote that law back in the 30’s were not idiots. They did it after the bankers screwed the country into the Depression with there frauds and scams. They wrote it to stop it from happening again. And it provably worked until the bankers infiltrated congress and removed those protections. And now here we again right back in a depression.
This article was written by someone with less than honorable intentions.
Citigroup.
Plus ça change, plus c'est la même chose.
Bump.....
The fact that insured banks suffered losses buying and holding AAA-rated MBS may say something about their investment acumen, but it says nothing about their trading or their risk-taking.<<<
Lets get something straight!!...there would be no MBS’s with bogus ratings EXCEPT for the fact the Government DEMANDED banks discontinue sound banking practices (the evil red-lineing)....Simply put..Banks would not lend money to people that could not pay it back!...
Astonishingly....to “compromise”, the Govt. backed the loans!!!
You don't have to be a Banker with a gun to your head to realize u can/must lend money to anyone with a pulse and have no risk to the Bank....Well, that just might be the prudent thing to do!!!.....lol....Who got caught with the musical-chair bogus rated MBS's is irrelevant!..It was doomed from the start by Govt. "trying to help"!