"Savior" of the GOP Already Lying or Clueless

[Indy]

[Indy]

[exploited]

Oh my.

Indy, you are absolutely correct. Your analysis is stunning, and clearly you have spent much time working out the true and fair level of blame to be assigned.

So, what's next? How do we prevent this from happening again? As Wall St. is clearly the most culpable perpetrator, what can we do to limit their ability to screw us again?

[Indy]

a) Really. I've not spent much time on this subject eh? Is that so...

b) I've outlined that as well too--many times. Where have you been?

Here are the easiest solutions:

1. Break up the TBTF banks or strictly enforce capital requirements--the first being most preferable
2. Separate investment banking from traditional banking. As my sig quote (not mine) used to say: you can be a bank, or you can be a casino, but you can't be both
3. Staff up and properly finance that SEC and CFPB to proper levels so that people on Wall St. know that if you do the crime, you will do the time (you know, like back in the old days--like the 80s?)

Three easy steps that should take care of almost the entire thing.

Banks won't be so quick to take insane gambling chances when they know there will be no taxpayer rescue should they go bust.

How hard was that?

Oh, and BTW: it was absolutely greed--naked, unchecked and out-of-control greed--that caused the mortgage crisis.

[exploited]

How does government regulations address greed? Will people be less greedy now? Or was the lack of regulations a crucial part of the crisis from the beginning?

See, I thought this was mostly to blame on Wall Street. But Wall Street isn't responsible for regulating themselves, that is the governments job. Could you clear this up for me? Thanks.

[dontworrybehappy]

Yes, greed by the American citizens. Wanting to live in a 500,000 dollar home and making 8 dollars an hour. Sorry, da math juz dont compute.

[Davethulhu]

[exploited]

[Indy]

[exploited]

But you just said greed was the problem, now you are saying it is fraud. Fraud is already illegal. So If fraud is already illegal, why the need for more government regulations? Was the lack of regulations maybe the prime reason for the crisis to begin with?

Please advise.