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Teetering on the brink of the new Depression
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handofdave
handofdave
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Re: Teetering on the brink of the new Depression
Sep 19, 2008, 10:16
stray wrote:
God yes, but although politically I'm probably extreme left I don't blame the brokers/bankers as much as I blame the system, or more accurately it's regulation.


I think you mean it's lack of regulation. The government in the USA has the memory of a gnat and the rich never forget a thing. Every time Congress loosens regulations on an industry, the predators go to work ripping off the public- it happened with the Savings and Loan 'industry' and it happened again, albeit to an even more damaging degree, with the investment banks. And every time, the government steps in and assumes the debts and passes on the losses to the average taxpayer while the execs (only a few might see jail) float gently to earth on their golden parachutes.

stray wrote:
Also brokers/bankers are going to royally fuck this new corporation for big and fast money which will prolly cause this whole thing to repeat further down the line.


Exactly.
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