GoFuckYourself.com - Adult Webmaster Forum - View Single Post

DTK · 11-01-2013, 02:47 PM

Relentless, those are all good points, but they don't solve the problem of the Too Big To Fail (TBTF) banks. Until Glass-Steagall is re-enacted (separating retail banks from investment banks, as they had been for 65 years) the TBTF banks will continue to make insane, massively leveraged bets with depositor's, and ultimately OUR money.

TBTF banks have pretty much doubled down on this shit since 2009. There's simply waaay too much short-term profit (and bonuses). Also, they know if it goes bad, they'll get bailed out and nobody will go to jail. It's all upside for them.

This is a good Forbes article recapping the causes of the Financial Crisis and why another major crisis is inevitable.

There have been no meaningful changes to these because the big banks have lobbied hard (aka bribed politicians) for that. One big example: In 2008, Obama's largest campaign contributor were the TBTF banks. Is it any surprise no banksters went to jail AND there's been no meaningful reform? It's not just him, they buy off fuckloads of congressmen and senators too. This is how our alleged "democracy" works now.

11-01-2013, 02:47 PM
DTK Confirmed User Industry Role: Join Date: Feb 2002 Location: The 510 Posts: 4,545	Relentless, those are all good points, but they don't solve the problem of the Too Big To Fail (TBTF) banks. Until Glass-Steagall is re-enacted (separating retail banks from investment banks, as they had been for 65 years) the TBTF banks will continue to make insane, massively leveraged bets with depositor's, and ultimately OUR money. TBTF banks have pretty much doubled down on this shit since 2009. There's simply waaay too much short-term profit (and bonuses). Also, they know if it goes bad, they'll get bailed out and nobody will go to jail. It's all upside for them. This is a good Forbes article recapping the causes of the Financial Crisis and why another major crisis is inevitable. There have been no meaningful changes to these because the big banks have lobbied hard (aka bribed politicians) for that. One big example: In 2008, Obama's largest campaign contributor were the TBTF banks. Is it any surprise no banksters went to jail AND there's been no meaningful reform? It's not just him, they buy off fuckloads of congressmen and senators too. This is how our alleged "democracy" works now. __________________ Arguing whether the Democratic or Republican party is better is like debating which steaming pile of shit is slightly less stinky. Last edited by DTK; 11-01-2013 at 02:48 PM..