Quote:
Originally Posted by aceventura3
By what standard do you measure your view? In my view banking is directly tied to monetary and fiscal policy, totally controlled and regulated by government. Bank charters, reserving, investment, accounting, financial reporting, even FDIC and all other aspects of their operations are controlled by federal or state regulation. They even have a mandate to loan funds to targeted areas or risk their charters. Fannie and Freddie central in home loans are quasi-government entities, they virtually control the home loan market.
I could continue but those who get it, got it already and to those who don't it won't make a difference.
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ace...you are completely ignoring the significant banking deregulation of the 90s - the Financial Services Modernization Act, which tore down the wall between banks, securities companies and insurance companies....and in the view of many economists, was largely responsible for the reckless and unregulated practices of those institutions and the current state of the banking and investment communities.
I could continue but those get it, got it already and to those who don't it wont make a difference.