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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (229074)	8/10/2013 2:01:43 AM
From: bentway	Read Replies (1) \| Respond to of 543567

I think many of our top investment banks have become continuing criminal enterprises. Not that everything they do is illegal, but they've discovered that if there's a shady, gray-area practice that MIGHT be considered illegal, it's more profitable for them to exploit it until called on it or caught at it, where they then pay some sort of perfunctory fine, go forth and sin no more in that direction, only to find new ones. They max out the principle that it's better to apologize than ask permission. Who knows how many crimes they run they've never been caught at? I think every investment bank needs some sort of government overseer with full access to ALL their operations, all the time. They should pay the guy's salary.

To: koan who wrote (229074)	8/10/2013 9:41:03 AM
From: Bread Upon The Water	Read Replies (2) \| Respond to of 543567

The banks need to be brought under control. If we start fiddling with Fannie and Freddie their zillion lobbyists will come in and make sure they get the lions share of the changes in profits. We can't, I would think, keep calling on the taxpayers to bail out Fannie and Freddie to the tune of 190 billion dollars every time the economy goes in the tank (and realistically address the deficits in our other entitlement programs). Yes, they have paid 130 billion of it back, but going forward we need to at least tweak the model to get to the "sweet spot" of lending. Tough enough to verifiy--easy enough to get a loan for working folks.