Midya's Weblog

Systemic risk the new rationale for fascism

How is any of this even remotely in the spirit of our country?  Big government is not the solution.  I find it interesting that these same people who demand that we have such big institutions and who caused these institutions to fail now want to regulate them.  We never had such big banks, because our financial system wasn’t so centralized.  Big banks are part of the problem.  The solution isn’t Barney Frank and Chris Dodd, however.  It is fostering a system where such large institutions are not viable.  What are such regulations going to do?  Keep the banks from lending?  Frank and Dodd are the ones screaming at the banks for doing just that.  Their regulations are certainly not the answer.

Fed Casts A Wide Net In Defining Systemic Risk

http://www.nytimes.com/2011/02/09/business/economy/09fed.html?ref=todayspaper

“Federal regulators on Tuesday took an expansive view of the types of companies that could be deemed essential enough to the financial system that they should be subjected to greater oversight.”

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This entry was posted on February 9, 2011 by in Uncategorized.
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