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Old 12-26-2012, 06:56 PM
 
1,139 posts, read 3,062,822 times
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Omg! we can't punish banks since that might cause instability in the market? Does folks in the Justice Dept have any brains or let me say guts left?

Link: UBS and too-big-to-punish: James Saft - Yahoo! Finance

The message we are sending is that U.S Govt is weak and is afraid of big banks.
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Old 12-28-2012, 07:37 AM
 
Location: Floyd Co, VA
3,513 posts, read 5,575,800 times
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It's not the banks, per se that they are afraid of. It is the panic than can ensue when there is a lose of confidence by investors. We have seen that happen many times under various scenarios in many countries.

Maybe the answer is to not let banks/ brokerages got too big. I just finished reading Too Big To Fail by Alex Sorkin and have gotten a few more books about the crisis of 2008 because I want to have a better understanding of what happened, why it happened and if anything has been done to change the way things are done and to provide much stronger protections.

The books include: The Monster - How a gang of predatory lenders and wall street bankers fleeced America - and spawned a global crisis. It's by Michael W. Hudson. Another book is House of Cards by William D. Cohan. A tale of hubris and wretched excess on Wall Street. Finally In Fed We Trust - Ben Bernanke's war on the great panic by David Wessel.

If I come up with any brilliant ideas I'll come back and post them. I'll pass them along to the powers that be too.
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