On Jul 25, 2012, at 5:11 PM, Bruce Johnson wrote: > > “What we should probably do is go and split up investment banking from > banking, have banks be deposit takers, have banks make commercial loans and > real estate loans and have banks do something that’s not going to risk the > taxpayer dollars, that’s not too big to fail,” > > WHo is this? Some radical Marxist like Elizabeth Warren? an Anti-capitalist > nutjob like Paul Krugman? > > <http://tpmdc.talkingpointsmemo.com/2012/07/sandy-weill-break-up-big-banks.php?ref=fpb> > > Sandy Weill, former chairman of Citigroup who basically invented the 'too big > to fail' bank. > > Weill said the model he built at Citi was “right for that time.” But “the > world changed with the collapse of the housing market and the real-estate > bubble … so I don’t think it’s right anymore.” > > Gee, now that that model fucking broke the world economy, 'it's not right > anymore'. >
At least that's what the know-nothing "look, a squirrel!" progressives want you to believe. I'm convinced that bad federal policies on mortgage lending was a significant factor in the economic collapse of fall 2008. But there are other factors, and they continue to this day: evil or careless politicians and regulators that get in bed with the leaders of industry they regulate. Time to get rid of them by voting them out of office, firing them or jailing them. Here's a story that came out during your vaycay, namely "Too Big to Jail": <http://www.nationaljournal.com/whitehouse/a-ghost-haunting-obama-named-barofsky-20120723> We saw the same thing with the Gulf well leak -- regulators too cozy with those they regulate. -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
