posted on Sep, 24 2008 @ 08:34 PM
He probably mentioned 10 years because that is probably where the root causes are, if not longer. If he had said 15 years I would agree with him, and
that is rare.
If you look back 15 years ago, there was a lot of deregulation on the banks; and this after the 80's banking crisis, which is exactly the same thing
we have now. I would be interested in knowing if the loss in the late 80's is equal to the loss now in how much that loss would be worth now. If
they are comparable, the problem could be fixed; and most likely with out the government interference.
The problem, or root, could be considered when the bill was passed that allowed banks to be a "one stop shop" of sorts. This allowed certain
companies, as he mentioned, to get to big. The blame is on the government, but greed by bankers and individuals must not be excluded.