I wonder why cons hate people so much, they resent their neighbor. Americans fear their neighbor, everyone's trying to screw you experts say humans are only 200 000 years into our million year life expectancy, but screw that. how is humanity going to survive the century?
Banks needs to be regulated, but there is definitely overregulation going on. Preserving the financial sector while making it easier to borrow or lend money sounds like a good thing to me.
The last one was a housing bubble. You want to know who to blame it on all you have to do is look at what pushed the banks into making loans that were supposed to expand ownership.
First, you liberals blamed the last crisis on Bush, when the regulations that caused the crisis were signed when W Bush was still governor of Texas.
Second, it is hard to say that the housing debacle was caused by a lack of regulations so much as the market thinking the gov't backed all of these loans. And the gov't did back all of the loans. The gov't certainly paid out, didn't they?
Lack of regulations in terms of the risks banks may take is not really a problem except for….
1.) Too few banks for there to be competition
2.) The government bailing banks out.
Overall even a "too big to fail" bank will be quickly replaced. Nature abhors a vacuum.
Now as far as deregulating, #1 and #2 are still in play, so deregulating may not be warranted. Regardless, all Trump as called for is a review of the regulations to see which ones are working. That is just smart business. Getting rid of regulation that are necessary because #1 and #2 are still in play…. that's stupid.
What Trump ends up doing may be stupid. Thus far, he is just getting more information and that's smart.
If he does do something stupid, it likely won't hit the US for another 7-15 years. Unfortunately, that how it works. You really ave to trace back to causes because bubbles take a while to form before they burst.
You tell me. I create a bill with 50 regulations placed on the banks. I review the regulations and find that only 14 of the regulations are really necessary and the rest are rather cumbersome and redundant. I then review a little bit harder and say some redundancy is necessary so I say 34 of the regulations are either necessary or provide needed redundancy.
So what should I do.
a.) Never have reviewed the regulations in the first place.
b.) Review is OK, but keep them all
c.) Keep the 34 regulations for necessity and redundancy
d.) Keep only the 14 necessary regulations
e.) Drop all of the regulations
I would say C, how about you? Right now you are saying A because you are assuming Trump is gong to do E.
Republicans personally glass steagal repeals, then had the nerve to blame Clinton for signing them after they caused the crash.
The last one was blamed on Bush – not Clinton.
And yes, if it happens again, Trump will go down in the history books as the cause.