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Politics : The Environmentalist Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (33874)	6/21/2011 3:54:39 PM
From: Land Shark	Read Replies (1) \| Respond to of 36921

Markets remain regulated in many areas. However, there has been removal of regulations (E.g. re. no banking charters limiting leverage & risk banks can take) that have lead to the GFC. $15 Trillion value of companies was wiped out. The greatest crash ever thanks to banks going hog wild in risk taking. Canadian banks are regulated in the risks and leverage they can take. They have charters. They didn't participate in the GFC. Another thing, it was TARP that prevented an even worse melt down... One bank fails causes a domino effect. All crash... Bank runs happen... Total economic collapse with damage that takes 20 years to repair (would've been worse than the great depression). You may sit back in your armchair in your ivory tower, but you can't relate to the pain that economic armageddon would inflict.