Quote:
Originally Posted by teomaxxx
why?
cause the same crooks who helped to lay-out the foundation for current crises are now
in charge to solve it....they are all owned by wallstreet crooks and there is no reason to change anything:
Wall St. Is Winning - Record Bonuses
http://www.gofuckyourself.com/showthread.php?t=933672
wallstreet get richer, while j6p got poorer . |
Exactly
Quote:
Originally Posted by Snake Doctor
Glass-Steagall doesn't deal with derivatives, because those didn't exist back then, and those are the biggest part of the problem IMHO.
The way derivatives work is the equivalent of me being able to buy a fire insurance policy on your house, setting your house on fire myself, and then collecting on my policy.
The whole regulatory framework has to be rewritten unfortunately. It's next on the agenda after healthcare from what I hear.
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Glass-steagall did keep derivatives relatively in check though. Still derivatives should be axed and glass-steagall put back in place, pretty simple solution but not enough politicians have the balls to do anything about it apparently.