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This isn't that difficult to understand, I can't understand why some don't get it after having it explained to them multiple times?
Dodd-Frank is a corporate crony bill written by the banking lobby, which creates so much red tape that only corporate mega-banks with massive compliance departments can navigate it all. That's why the community banks and credit unions are all dying & being gobbled up by the corporate mega-banks. It needs to be repealed or at least several gutted.
What we need to do is re-enact Glass-Steagall, which Bill Clinton did away with that led directly to the 2008 meltdown. Under Glass-Steagall the taxpayer insurance (FDIC) applies to customer deposits. By repealing Glass-Steagall it allowed the corporate mega-banks to dive into all sorts of risky investments, from derivative markets, to bundling high risk mortgage loans, to who-knows-what and if their risky investments failed, the taxpayers would have to bail them out. Of the 2016 candidates it's interesting to note that Trump, Bernie & Jill Stein all wanted to re-enact Glass-Steagall, while Hillary said she wouldn't even consider it.
This isn't that difficult to understand, I can't understand why some don't get it after having it explained to them multiple times?
Dodd-Frank is a corporate crony bill written by the banking lobby, which creates so much red tape that only corporate mega-banks with massive compliance departments can navigate it all. That's why the community banks and credit unions are all dying & being gobbled up by the corporate mega-banks. It needs to be repealed or at least several gutted.
What we need to do is re-enact Glass-Steagall, which Bill Clinton did away with that led directly to the 2008 meltdown. Under Glass-Steagall the taxpayer insurance (FDIC) applies to customer deposits. By repealing Glass-Steagall it allowed the corporate mega-banks to dive into all sorts of risky investments, from derivative markets, to bundling high risk mortgage loans, to who-knows-what and if their risky investments failed, the taxpayers would have to bail them out. Of the 2016 candidates it's interesting to note that Trump, Bernie & Jill Stein all wanted to re-enact Glass-Steagall, while Hillary said she wouldn't even consider it.
Wall street and the banking community IS the swamp. They (and their money) are the prime mover in all swampy things.
Government regulations are like a traffic signal on a busy corner. Annoying? ... yes. But absolutely necessary.
The problem arises when you allow the banks to write the regulations as they did with Dodd-Frank. They knew it would drive all the community banks and credit unions out of the market and allow them to gobble up those customers.
The worst case scenario is "government regulation" because it almost always is code for "government collusion with the mega-corporations". The criminals are able to get the government to make their crimes legal and then act as the muscle to enforce them. Does anyone believe the following industries are trustworthy since the government is regulating them?
- Banking
- Pharma
- Chemical
- Oil
- Military Industrial Complex
Keep slapping your head, it's good for you... I fail to see how you equate traffic signals with corruption.
You mean a government headed by Donald 'stick fingers' Trump is corrupt? Amazing.
Are the government and politicians not corrupt?
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