Re:Forget Wall Street, worry about fintech
by thephyber on Wednesday October 11, 2017 @05:49PM
(#15453809)
I think you're taking liberties with the term "got rid of".
Those banks that we "got rid of" were just consolidated into other "too big to fail" banks. And even worse, the ones that survived learned that the White House and Congress will backstop them even when they crank up the risk, use corrupted ratings agencies, and sell mortgages of the worst quality to Fannie Mae + Freddie Mac.
Those banks that we "got rid of" were just consolidated into other "too big to fail" banks. And even worse, the ones that survived learned that the White House and Congress will backstop them even when they crank up the risk, use corrupted ratings agencies, and sell mortgages of the worst quality to Fannie Mae + Freddie Mac.