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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (37476)	1/10/2013 11:42:21 AM
From: grusum	1 Recommendation Read Replies (1) \| Respond to of 85487

so wall st. need s what type of supervision? more? less? about the same? when jp morgan saved his bank, he was actually saving himself and his reputation. since there was no way to get the government to step in, the onus was all on the banks to fix it or die. morgan's reputation was all he had to do business with. if he lost his rep, he was finished and he knew it. that's why stepped up to save his shareholders with his own money. he sure wouldn't have done it if he could have gotten the federal government to save them. in short, the free market is the best supervision there can be. it's much more effective than the government. as a matter fact, government intervention is counter productive. goldman sachs should have failed. nothing would have happened to the system. the smaller banks that were in good financial shape would have picked up the slack and become stronger for not taking big risks for big greed.