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 The most important parts were repealed.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Anyway the proof is that everything went to H*ll immediately after it was repealed.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.
Well said.
“This is a bunch of crap! Pure propaganda.”
Agree. It’s been shown for literally THOUSANDS of years that people that lend money must be regulated, or they will simply blow it all.
I’m as willing to defend big business as anyone else, but not to the extent of defending these crooks that run some of these operations, like Angelo Marzillo, of Countrywide, that started this whole thing.