Quote:
Originally Posted by Waxing_Gibbous
We're back to regulation again. The US banking system is one of the most heavily tegulated in the world.
End result: Global financial meltdown. But not because of the system itself, rather a failure to govern and a failure to comprehend.
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If the US banking system is one of the most heavily regulated in the world it is clearly not regulated enough.
As to the second remark, for the last decade and a half we watched governments all over the world dismantle the regulatory system so the wealthy elite could make their $$$ quick and dirty without restraint. The result. They have brought the system to the brink of disaster and now were to be told that the fault for all this lies with the regulators. What $#@!. The system is to blame and we need a democracy that servers the people and not the few greedy capitalists that would sell their own grand mothers for a few bucks and then blame everyone else for not stopping them from doing it.