02-23-2018, 04:16 AM
(02-21-2018, 10:24 AM)GMDino Wrote: ...oversight and regulations to keep an eye on bad practices are being waylaid.
The govt does pretty well at fixing problems [regulation, or lack thereof] after the fact. Nothing Obama did, or that Trump un-did, is going to matter. EVERY major "financial crisis" has been Wall Street innovation running way ahead of regulation and models. That will never change - you can't fix what you can't see.
In the last 3+ decades, we've had at least 3-4 financial crises.....every one a failure of risk mitigation models. Hubris, yes, greed or indifference, no. You don't agree because everything you read and hear says otherwise - because everyting you and everone else reads is partisan propaganda. You're not stupid, you just don't have the experience and education to know better. Friends and colleagues talk all the time how we wish people could get the truth.
I AM afraid of the next recession, because Obama's recovery is basicaly Bushanomics on steroids. W's economic growth was fraudulent - it was fueled by financial services (mostly mortgage financing). But Obama's isn't any better. More easy money, more cheap financing. We didn't learn our lesson the first time and the next time will probably be worse. Nothing to do with regulations - but your politicians will make sure you "know" otherwise.
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