The 80s and 90s deregulation of banking resulted in the lifting of Glass Steagall. Now we see another banking crisis directly caused by overleveraged mortgage security insurance and ratings.
Won't we ever learn ?
i say dont bail em out.
Let the market correct itself. And yes the banks will suffer horrible losses.
but if they are gonna belly up somewhere to save their fat asses...let em belly up to the fed. Instead of giving foreign nations control of american finance.
what a friggen mess.
Funny you should mention Glass-Steagall.
Guess what was merged together to create the Citigroup monster?
A big insurance company and a big bank.
As you say, “don’t we ever learn?”