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Bankers contribute substantial amounts to political candidates. Ex-bankers run the agencies that are supposed to oversee the banks. And they have quietly in the
by not_that_noob 12y ago
Bankers contribute substantial amounts to political candidates. Ex-bankers run the agencies that are supposed to oversee the banks. And they have quietly in the name of encouraging competition rewritten laws to strip away protections. In other words, it is now perfectly legal to grab cookies from the cookie jar. Is it any surprise nothing has been done?
I used to be more neutral till the secret recordings of Carmen Segarra came out - http://www.propublica.org/article/so-who-is-carmen-segarra-a-fed-whistleblower-qa http://www.propublica.org/article/so-who-is-carmen-segarra-a...
The fed regulators in question were recorded being eager to be deferential to the very banks they were supposed to regulate, and the very banks that had caused this crisis. And oh, a surprising number of ex-regulators ended up working for the banks they previously regulated. What a coincidence.