I have been a bank examiner and regulation is essential to keep a stable system. Some banks are purchased by people who do not understand the system and think any amount of loans should be made under any circumstances and undermine the stability of the bank. Banks do not even have to publish a statement of condition these days. The Comptroller gets the information, but it is not voluntarily made public. The financial system NEEDS REGULATION.
(yes I am shouting!!
Nice to see someone put their finger on this. For the money that’s been spent on tax cuts and bailouts 100,000 companies could have been funded with more than $50,000,000 each - Hrm. Just how many jobs would that have created? And how much in taxes would that then have generated as a result as well?
whitenoise about 15 years ago
Actually agree with you on that one Pup, though I am sure you realize that would require increased government regulation…
claudermilk about 15 years ago
I have to agree with Pup here too. We need to know where the money’s going.
JerryGorton about 15 years ago
I have been a bank examiner and regulation is essential to keep a stable system. Some banks are purchased by people who do not understand the system and think any amount of loans should be made under any circumstances and undermine the stability of the bank. Banks do not even have to publish a statement of condition these days. The Comptroller gets the information, but it is not voluntarily made public. The financial system NEEDS REGULATION. (yes I am shouting!!
Jeffritoman about 15 years ago
SPOT ON!
curiosity1 about 15 years ago
Nice to see someone put their finger on this. For the money that’s been spent on tax cuts and bailouts 100,000 companies could have been funded with more than $50,000,000 each - Hrm. Just how many jobs would that have created? And how much in taxes would that then have generated as a result as well?