Re:Why it’s so hard to fix banking: An interview with Simple...
by Nursie on Saturday May 19, 2018 @03:17PM
(#17109276)
This is just wrong, sorry.
Lots of measures have been put in place in the last decade to prevent '08 style crashes happening again.
The entrenched interests want less regulation, not more.
Re:Why it’s so hard to fix banking: An interview with Simple...
by jessaustin on Saturday May 19, 2018 @03:40PM
(#17109383)
Are the big banks smaller? When they screw up again, will their ironclad control of the relevant political entities fail to bail them out as it has before?
Re:Why it’s so hard to fix banking: An interview with Simple...
by Nursie on Sunday May 20, 2018 @05:45AM
(#17112021)
In some ways yes, they are smaller. Here in the uk the investment and speculation parts now have to be separate from retail banking. They also have to keep much larger reserves to reduce the risks.
I'm sorry if you don't want to hear it, but some regulation is good and put in place to protect the consumer.
That's the just-so story they tell children, but in living memory the only function of new financial regulations has been to exempt rich assholes from consequences of already-illegal things they already did and decided they want to do more of. One wonders if one went back in history far enough, would this aetiology ever be correct?