Why Does Wells Fargo Still Exist?

[Belsnickel]

(08-27-2018, 09:49 PM)fredtoast Wrote: The bailout was not a good thing, but it was necessary.

We could not just let our financial industry collapse.  It is probably the single largest industry in our GDP.  Other players would have stepped in and taken over.  It was not something that we could have just suffered for a while and came out better in the end. 

So while I hated the bail out I realized we had not choice, but my head exploded when I realized there would be "no strings attached".  remember how OUTRAGED Wall Street was at the suggestion that there should be some rules or regulations placed on the billions of government dollars they received?  gthey were like "How dare you try to tell us what to do with all this money you just gave us!"

The fact that there were no sweeping regulations after the bailout was criminal.

And there are still a bunch of people heer who claim it was because people "bought more house than they could afford" or "Democrats forced the bankers to lend to minorities with bad credit". 

I agree that the bailout was a necessary thing. It was a difficult pill to swallow. You hit the nail on the head with the lack of regulatory efforts in the aftermath, though. I would add that there was no accountability for those that were responsible, either. The bailouts should have come with some heavy strings in an effort for the executives and other leaders in the industries involved that caused the crisis to be held accountable.

There is also the issue with the toothless, half-assed regulatory attempts that occurred in the aftermath being removed by the current administration and Congress, as well. All in the name of profit over people.