Parodite wrote:
The push to "deregulate", notably repealing the Glass-Steagall act, was pushed for by corporate investment banksters and speculators decades long: a link was once posted by Typhoon.
I guess. But Glas steagl didn't have anything to do with anything.
The 2008 crisis was not only caused by the housing bubble in the US. Also regulators not doing their job and allowing triple-A dog-poo to accumulate in the housing market knowingly.
It was caused by a Keynesian bubble, a government created debt market and a government created financing entity, Freddie/Fannie.
It's all Democrat from top to bottom.
A number of wrong incentives have contributed to the 2008 crisis. Most importantly, IMO, the fact that people like Goldman Sachs CEO Blankfein are allowed to entirely protect their private capital from being exposed to the same risks he takes with other peoples money.
As I said, don't hate the playa, hate the game. GS just plays the game as designed by Democrats. Root cause is the Democrats, not GS.
Intentionally rigged or not.. the incentives operating in the financial industry will drive us again to a 2008 situation.
Um, under
obama we're already there again. You guys really, really, really don't pay attention.
Btw.. Mr. P.,... you of all people should know. Where there are rules&laws, there will always be people trying to find semi-illegal loopholes, try steal without being caught, or preferably: grab power and change laws to rig a system in your own favor.
And Democrats are there to facilitate that process at every step. That's why we're against Democrats so much.
You should watch this video, it's really going to change your mind.
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