Image credit to thesocialleader.com
Wall St. got “bailed out” The Horror. Throw chains on them! That’ll keep them under control.
The Banks stepped over their limits; They were speculating at our expense but is the right way to control them to regulate more? What is a bank? It’s a legal entity, but in reality its a group of people working together. Regulation limits what that specific type of organization can do, not what the people can do. We should utilize regulation to the fullest but temper our expectations of what it can accomplish.
Is a banker used to pulling in millions for taking usually profitable risks going to be content working under restrictive regulations?
This individual will innovate, he or she will come up with another way to take huge risks whether its at a bank or not.
So how do we fix it? We can’t. We can only learn from our mistakes and take even bigger risks. Next time that “banker” might save the world.