posted on Nov, 5 2011 @ 01:28 PM
Originally posted by TupacShakur
reply to post by beezzer
I want stricter regulations on big banks, because the lack of regulations caused the financial collapse
Be specific. How about we reinstate Glass-Steagall.
Unfortunately, just saying "regulations on big banks" makes the partisan ignoramuses rage, but trying to explain Glass-Steagall will make most
people's eyes glaze over, and once their eyes glaze over they usually revert to the default opinion that Glass-Steagall is just "complicated
big-government stuff," or "Saint Obama gonna save us."
People are just too dim to understand that the financial markets' complexity is labyrinthine.
Of course, even thinking about this subject gets us running in circles.
No regulation means that banks gamble with the entire economy and even little banks will have to do so to stay competitive. Economic collapse
destroys the little banks, but the big ones get bailouts, and their executives get taxpayer funded bonuses, because they were such loyal campaign
contributors. Reinstating regulations and/or eliminating campaign funding would solve the problem, but the people have absolutely no ability to enact
either change. Basically, the people writing the laws are also profiting from them.
The bottom line is that there is no solution. I really hate this subject.