Re:Terra Luna crash: CTO of Tether welcomes fair regulation ...
by dragontamer on Wednesday June 15, 2022 @10:28AM
(#31753404)
> Nationalize them.
You mean, have the US Government become the largest holders of bank equity (preferred stock) in America forcibly, thereby allowing the US Government to choose the board-of-governers of each banking company to the point where the US Government could call the shots and select the CEO (and other officers) of the companies?
Which is literally what happened? We then used that leverage to forcibly enter those banks into "deals" and force those asset-purchases down their throats?
> Get rid of the people who had actually caused the crisis
That assumes that the US Government could have found better people to run those banks than the people already in charge.
The ugly truth of the politics is, the best people to run the banks were those very same bankers (except this time, with the US Government breathing down their necks).
US Government was the largest preferred stock shareholder after TARP was enacted of all of the major banks in the nation. US Government forced the banks to follow the new regulations and also encouraged the banks to "buy back their equity" (allowing them to become fully private again) in short order.
You mean, have the US Government become the largest holders of bank equity (preferred stock) in America forcibly, thereby allowing the US Government to choose the board-of-governers of each banking company to the point where the US Government could call the shots and select the CEO (and other officers) of the companies?
Which is literally what happened? We then used that leverage to forcibly enter those banks into "deals" and force those asset-purchases down their throats?
> Get rid of the people who had actually caused the crisis
That assumes that the US Government could have found better people to run those banks than the people already in charge.
The ugly truth of the politics is, the best people to run the banks were those very same bankers (except this time, with the US Government breathing down their necks).
US Government was the largest preferred stock shareholder after TARP was enacted of all of the major banks in the nation. US Government forced the banks to follow the new regulations and also encouraged the banks to "buy back their equity" (allowing them to become fully private again) in short order.
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https://www.cbsnews.com/news/us-government-no-longer-majorit...
US Government was the largest shareholder and therefore the legal owner of a lot of these banks (and GM/Chrysler, who also got caught up in this).