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Originally Posted by MaDalton
Cyprus shows what happens when you have not enough government influence on banks 
same like the housing crash in 2008 and a few other examples.
when banks can do whatever they want, they fuck you up the ass with no lube and then pay themselves a bonus
i am surely no hardcore socialist but banks need to be highly regulated - worldwide |
Banks are already the most regulated industry in the world. So what happens? Their friends in government force them to make loans that are too risky in order to make political points and get votes. Then the banks can't handle the risk so the government promises to underwrite it, and bail them out if it goes bad. At the same time, the banks use the government to institute more and more regulations on banking that are designed to keep out any startup competition that might provide more choice and balance in the banking marketplace for the consumers.
More regulation will simply result in their being only a handful of banks left in the world, no other place to go, and the government being able to utilize those banks to do whatever is politically expedient, while always bailing them out with our money whenever their politically expedient actions go wrong.
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