"Bankersâ efforts to water down tougher new regulations by claiming they will harm economic growth are âintellectually dishonest and potentially damagingâ and could inspire an even more robust crackdown, a leading UK regulator has warned. âA profession which should stand for integrity and prudence now supports a lobbying strategy that exploits misunderstanding and fear,â said Robert Jenkins, who was named in July to the 11-member Financial Policy Committee, a new body charged with protecting financial stability."... http://www.cnbc.com/id/45412860
Again, no surprise on this one. If you are making billions robbing the ignorant public, why on earth would you want reform? If the public wasn't so retarded (lending from banks what they couldn't afford in the first place) it wouldn't be a big deal. It's unfortunate wall st. has politicians/white house in their pockets, cause this doesn't help. The white house doesn't seem to give a shit about average joe. I'm pretty sure the problems we have here exist in most 1st world countries. The white house (attempted to) sheild the banks from the true essence of capitalism (weak fail, strong survive)... which is what this country was built on. It's tough to say what would have happened had they been left to fail, but it definitely doesn't seem like bailing them out really changed much. I defensively just try hard to wall myself off from this idiocy/corruption.