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Feels like a never ending cycle. Economic calamity occurs. New regulations brought in. The very next day the industry starts lobbying to have those regulations
by afavour 4y ago
Feels like a never ending cycle. Economic calamity occurs. New regulations brought in. The very next day the industry starts lobbying to have those regulations removed. They find receptive ears and achieve their goal. Economic calamity occurs.
- cde-v 4y agoReplace "find receptive ears" with "pay for receptive ears" then you got it.
- anticensor 4y agoIt has parts of both. Not everyone becomes more receptive by payment.
- nr2x 4y agoAnd the wealth gets more concentrated in the process.
- notch898a 4y agoAs pointed out elsewhere on HN there is a bank with essentially 0% of risk from going bankrupt by means of improper/mismatched investment. The concept is "narrow banking" and involves pass-through deposit to the central bank. The government refuses to issue a banking license. In this case I'd argue over-regulation is the reason why you can't have this form of safer bank.
- kortilla 4y agoThey aren’t achieving those goals though?
- tjpnz 4y agoArguments are made that those particular regulations would've never had any impact/made the problem worse. Rinse, wash, repeat.