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And not only is there absence of criminal responsibility, but the regulation that made banking stable for 100 years and was taken away in 90s (like the Glass-St
by asta42 8y ago
And not only is there absence of criminal responsibility, but the regulation that made banking stable for 100 years and was taken away in 90s (like the Glass-Steagall Act) cannot be put back in place. Seems like people that caused the GFC are the ones in charge of 'fixing' it.
- rhino369 8y agoGlass Steagal didn’t make banking stable. Most countries (including those who weathered the storm much better than the US) don’t have a similar law. In fact, marrying investment and commercial banks during the crisis was a key part of stopping a banking collapse. And the whole crash started by investment only banks failing.