parsy, who thinks it is a good thing
Are these cranks still at it? Socialism failed everywhere it was tried in the last century. Freedom in economics works, government control does not.
The banks were doing well when they were making solid loans, rather than being forced to loan to bad risks. They should go back to that, if the Federal government would stop interfering.
I wonder if the author thinks Soros is a predator who misallocates capital?
Well Butch & Sundance sure thought so and so did old Bonnie Parker & Clyde Barrow.
In addition, as I had a chance to tell you earlier, "regulating Wall Street" is a religion: you believe that such regulation exists. It does not. To regulate, one has to have information about the objects being regulated (firms, products, consumers, etc.) Governments ALWAYS know less than the actors in the economy. There is no regulation that would be able to prevent cycles. And, in fact, it was regulation that turned a regular recession of 1929 into a prolonged Depression.
So you are acting out a religious belief, parsy, and rely on absolutely empty articles such as this one to support it.
The problem is “who regulates the regulators”?