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Originally Posted by brentbacardi
Um actually no. If it was left to the private sector, most banks would be out of business and new ones would be taking over that did not engage in risky behaviors. Survival of the fittest works if you let it. Those scum bankers should be out of jobs, not taking down big bonuses on the tax dollar.
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Nice theory, but here is real history for you to digest :
http://en.wikipedia.org/wiki/Savings_and_loan_scandal
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The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995:
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lax regulatory oversight allowed some CEOs of S&Ls to become "reactive" control frauds by inventing creative accounting strategies that turned their businesses into Ponzi schemes
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