With the talk of Nationalizing some of these large financial institutions...Maybe it's Socialism at any price?
Part of the problem as I see it is the wrong kind of regulation.
yea yea I know "Regulation" is an evil word around some circles here.
But because money tends to corrupt. Some regulation, if well placed, and not overdone, is a good thing.
What we need to do is prevent alot of these mergers so that some companies dont get so frikken big that when a few of them fail. It doesn't adversely effect the economy of an entire nation.
Doing so would create two things. a certain amount of redundancy in the banking system.
And increased competition in the market place.
Another problem is oversight of some of these companies such as Fannie Mae,
But the people who are reasonable for their oversight often receive directly or indirectly campaign contributions from the very entities they are charged with overseeing. Making people hesitant to crack down on thee companies.
Seems to me any company or institution,their CEO's or other executive lever officers. That has oversight attached to them.
Should be barred from making political contributions of any kind. directly or indirectly.publicly or privately. (Another regulation)
Then the politicians of both parties have little reason to not do their job.
Furthermore
Anyone charged with the job of oversight of these business entities. should be held equally accountable and liable for the illegal or irresponsible goings on of those entities.
In laymens terms. If a citizen becomes a criminal by pickpocketing another citizen. And the cop charged with policing that corner watches the pickpocketing take place. And does nothing to stop it. then the cop is just as guilty as the criminal.
