Quote:
Originally Posted by Derwood
Actually, Baraka, if you read Matt Taibbi's series of articles about Wall Street post-TARP, you will see that they continue to do exactly what they did before, and plan to continue to do it. They now have DC in their back pocket, with former Wall Street insiders in most major economic positions in Washington. The TARP bailout was a major victory for Wall Street, and they will continue to exploit everyone/everything they can as Congress bends over backwards to make sure that they are never punished and that no regulations are put in place to stop them
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Whaaaat? I was under the impression that the government was going to do something about the regulatory environment. I thought they already made some steps in banking.
I was also under the impression that near-failures in large institutions are catalysts for internal change. Of course, I could be wrong. Apparently I am.
They
should change. This is why I support government regulation. It keeps capitalism in check.
---------- Post added at 02:41 PM ---------- Previous post was at 02:40 PM ----------
Quote:
Originally Posted by roachboy
can you say financial oligarchy?
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See, I didn't want to say it. I haven't been reading much about this issue for a while. I really thought there was going to be a re-evaluation of regulatory practices.
There isn't?