GRusling Wrote:
Oct 08, 2012 9:59 AM
The problem with most banks is "congressional regulation" which causes them to do things no logical banker would ever consider, then when they lose money they try to find a way to recoup their losses, which leads us to things like "derivatives" which are nothing more than all their risky loans (required by congress) bundled together and sold as a valuable financial instrument. Human beings are creative. Require them to do that which is not in their best interest and they'll find ways to mediate the damage. Such creative thinking is precisely what caused our current problem, and there's no such thing as "Too Big To Fail," including the United States of America...