Discussion in 'Wall St. News' started by number22, Oct 16, 2009.
mark the date.
Bush didn't do it? Unbelievable
Precisely that partisan reaction will get us into the next crisis.
The Chamber of Commerce is right now engaged to opposing regulations coming down in response to this crisis. Their attitude continues to be, when it comes to regulation, in the immortal words of Groucho Marx, "Whatever it is, I'm against it."
But in finance, you need to tie these guys down and keep 'em tied down. Then you need to divide them up into much smaller banks, and keep them divided with very strong barriers to growth (a thing no one in Washington is contemplating, of course). Otherwise, this whole thing will come down on us again.
What do you mean by "again?" Don't we have make it out of this one before it can happen "again?"
Aye Yo: Actually, no. You're right about that.
You've got a lull right now. Money markets are working again, LIBOR is down to normal.
The problem is we now have even bigger banks that are too big to fail. No one is thinking about how to break them up and keep them broken up. Part of the reason why is that everyone is back in their partisan trenches again. The other part is that the folks in the Obama Admin's Treasury are mostly the same folks who got us into this mess, and the last and by far the most important part is that Obama blew it big time by not tackling the banks on Day One, killing the zombies, breaking up the rest of the big ones, and resetting the whole thing.
So, something bad happening again once everyone figures we are out of the woods is baked in the cake.
But getting back to Arnie, it still doesn't help that the very first reaction is partisan and political. I'm sure that's what's happening in DC too. Doesn't give me a lot of hope.
PBS and Frontline coming out with a story about the "crisis" that doesn't blame Bush and may finger current administration players? Kinda hard to believe.
Don't worry he's not out of anything. He's got plenty to explain including an unfounded war and a shit bailout that went through under his watch.
No one in Washington is contemplating this because the seats in Washington are occupied or paid for by the bankers. The US Banking Cartel is going to destroy this country.
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