President Barack Obama Message Board

STOCKTALK

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Politics : President Barack Obama

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To: RetiredNow who wrote (145708)	9/11/2014 12:01:58 PM
From: John Vosilla	Read Replies (1) of 149317

In short, banking would become a boring and stable industry and the creative genius of this country would go back to making useful things and services, instead of creating the next financial weapon of mass destruction. Yes that is what I fear most down the road.. Money printing = more debt. Things have never been the same since we repealed Glass Stegal, our stupid response post 9/11, excess fed intervention to 'save' the day and partisan politics. FYI I totally agree with your bullet points of what should have been done. BUT bottom line we are in the here and now, we didn't do that and neither did the rest of the world well at least those countries that didn't have a gun put to their head like Greece... Party on perhaps till the second year of the next administration? All the debt you see being added on to the federal government, to auto loans, to student loans, to corporate debt all already at extreme levels will continue but add in much more lax lending for mortgages (the grand daddy of them all) and credit card debt.. You can see where we already are in the UK, in Canada and in Australia.. All in the game of propping up asset prices and pulling forward consumption to the present

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