Quote:
Originally Posted by mookiemookie
If your profit model includes helping to create the financial crisis that's destroyed our economy, then quite frankly, screw your profit model.
They'll make plenty of profit. They did just fine under Glass Steagall, and the Voelcker Rule is much milder than that. Unfortunately.
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If you consider the housing bubble as the initiator of the current depression, let me remind you that it was government regulation and punishment for non-compliance which started it. As early as 2002 the executive branch was calling on congress to make changes.
Yet in the current Financial Bill no regulation of Freddie or Fannie are instituted. The very firms who sell mortgages to the large private firms with the understanding of government support.