We, the taxpayers, guarantee liabilities, via the FDIC which in a crisis becomes infinite.
We FORMERLY used this guarantee to impose some controls on the business and investing activities of the guaranteed institutions, and we gradually eliminated that, culminating late in the the Clinton administration.
It’s not that banking was riskless, but did you notice every time we deregulated practices, first in the early 80s with the S&Ls and later in the ‘00s with allowing banks into the full range of investment activities, that a few good years with bankers paying themselves handsomely were promptly followed by a massive crisis with the taxpayers paying off the depositors?
Also, why such a nasty tone? Citigroup employee?
The FDIC is funded by the banks. Are you saying something about the FDIC was deregulated?
We FORMERLY used this guarantee to impose some controls on the business and investing activities of the guaranteed institutions, and we gradually eliminated that, culminating late in the the Clinton administration.
Banks are one of the most highly regulated things out there. You think they stopped regulating them late in the Clinton era?
It’s not that banking was riskless, but did you notice every time we deregulated practices, first in the early 80s with the S&Ls
What deregulation do you blame for the S&L crisis?
and later in the ‘00s with allowing banks into the full range of investment activities
What investment activities caused the crisis?
Also, why such a nasty tone?
You think that was a nasty tone? LOL!
Are you new here? Did you hack a long time Freeper account?
You never said, what would Glass-Steagall have done in 2008 to make things better?