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IIRC, The official narrative from politicians, news anchors and think-tanks was that: - If the bailouts didn't happen, it would be mayhem, "too big to fail", e

IIRC, The official narrative from politicians, news anchors and think-tanks was that: - If the bailouts didn't happen, it would be mayhem, "too big to fail", etc. - You got your money back with interest. It was all payed back (disregard economic theory and value of money in hand). - Why are you complaining, you banjo-playing hippie? You can't be in OWS if you have an iphone! (In Erin Burnett's voice) ------ Many people will talk situations that forced the banks to hand out these bonuses and maybe they're right but the deeper problem is that when companies/banks/people suffer no consequence (and even worse, benefit from) doing illegal/harmful things then they're going to keep up doing them. profit vs "cost of infraction".

maxerickson 12y ago
Significant new regulations were enacted: http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_... In particular, the orderly liquidation authority created a legal framework to liquidate a broader range of financial institutions: http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act#Title_II_.E2.80.93_Orderly_Liquidation_Authority http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_... Dodd Frank is at least toothy enough that banks are constantly whining about it now (and working to dismantle it).