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Politics : View from the Center and Left

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To: Bread Upon The Water who wrote (228963)	8/8/2013 10:26:23 AM
From: Sam	Read Replies (2) of 542681

Think it would work if the regs are written tight enough lol, but the truth is that "regs' are NEVER written "tight enough." There is always a way around laws, and someone will, in the ripeness of time, always find it if enough people are convinced that they won't be held accountable personally, if the worst thing that happens is that your company goes bankrupt or gets fined or some such thing. My guess is that a few years in a federal prison wouldn't be enough of a deterrent if a person's wealth wasn't also taken away. No, the only way to deal with this is make individuals at the top accountable by confronting them with the threat of the loss of both their freedom and their wealth if they do BS like what happened during the financial crisis. They and their boards are the ones who set the policies and the tone. We need people who will confront them at the top of the govt, and unhappily Obama is not that guy. Nor is Summers, which is why I oppose him for Fed Chair. I don't know about Yellin, maybe she is maybe she isn't. I wish Volcker was 20 years younger.

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