Writer's Block: Federal Regulatory Overhaul for the Financial Industry

[sting58493]

No, it needs no federal regulation.  Congress telling banks to take more risky loans in the late 90's contributed greatly to that in the 1st place.  That is what really bothers me when Obama talks about how we need to redistribute the wealth more evenly.  It sounds similar to Congress saying the those banks should give loans to people who can't

Comments

[noni_awesome]

well, i mean, that's the problem when the leader of all financial institutions in America, Alan Greenspan, gets it into everyone's heads that perceived wealth is better than actual wealth.

Hence credit system, bad loans, etc.

Now we are footing the bill. Literally.

[ixnayonthetimma]

It's the New Feudalism! The Ruling Elites™ get to do whatever they want and we get to clean it all up. Y'see, when money doesn't really exist, anything can happen! And clearly, anything does happen. I really get the feeling that, half the time, the people in charge are just blowing smoke up our collective asses.

Asses I tell you!

[roytheboy]

Welcome to the new America!

Do you work hard for your money? Are you a successful, energetic, entrepreneur known for your integrity in both life and business? Well do I have good news for you! Change is coming!

Success and wealth are bad! Just look at Enron! So instead of giving you the chance to earn your way into life we're going to take that money you've worked for away from you. Plan on working harder and making more money to spite us? Never fear! We'll tax you much higher as your income increases. Hooray!

[the_glass_jc]

Maybe this is crazy, but I think crazy is all we've got left.

Since, as Adam pointed out, the people that we're giving these loans to can't really pay them back, why not just give them the money as a gift?

We'll call it a stimulus package and we'll give it to anyone who has no ability (or no intention) of paying it back. Y'see, if you give money to someone who has none, they can run out and spend it all frivolously. This will remind them of how good it feels to buy stuff that they don't need and thus give them incentive to get a job and earn their own money so they can buy more stuff that they don't need.

It's like if you were a drug dealer and you got all of your friends addicted to crack. The first taste is always free!