Have we learned anything from the Financial Crisis?
I would say nothing at all…. In fact, instead of changing their behavior to prevent another crisis regarding finance, the Powers-that-be seem to be doubling down on the strategies that Caused the Financial Crisis in the First Place
Liberals blame deregulation and reckless Wall Street greed for the economic crisis. Conservatives blame bad government policy.
What are they doing? Well here again…. they are:
1. Pushing banks to make home loans to people with weaker credit (sound familiar?)
2. Deregulating and even promoting insane levels of derivatives (ring a bell?)
3. Following policies which lead to rampant inequality (that didn’t work out so well last time)
4. Letting white collar criminals know that they have free rein to do whatever they want, and they won’t be prosecuted (once again)
5. Letting the giant banks get bigger and bigger (the government helped them get big in the first place)
Continue Reading: Financial Crisis