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posted by
martyb
on Friday March 30 2018, @07:36AM
from the change-is-not-necessarily-for-the-good dept.
from the change-is-not-necessarily-for-the-good dept.
10 Years Since The 2008 Financial Crisis
The financial crisis and the massive federal response reshaped the world we live in. Though the economy is in one of its longest expansions and stock indexes have hit new highs, many people across the political spectrum complain that the recovery is uneven and the markets' gains aren't fairly distributed. The Wall Street Journal takes a look at some of the most eventful aspects of the response and how we got to where we are today.
America lost a lot of strength and stability, there were no consequences for the most egregious offenders, and those involved are now part of the regulatory capture in the financial markets.
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How the World has Changed Since 2008 Financial Crisis
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TAPPING? You POLITICIANS! Don't you realize that the END of the "Wash
Cycle" is a TREASURED MOMENT for most people?!
(Score: 3, Informative) by khallow on Friday March 30 2018, @08:03PM
To the contrary, it was quite legal. And such securities are lower risk than taking on random individual loans with the same level of care. Sorry, it wasn't criminal activities or complex securities that caused the real estate crisis, it was the ability to borrow $50 in extremely low interest rate loan for each 1$ of assets owned.
The whole point of Sarbanes-Oxley was theater, the appearance of caring. My view is that the vast majority of financial law is an utter waste, more useful in creating large multinationals, stagnant economies, and gullible plebes, than in doing anything to protect us from economic crises or fraud.
Are we talking about the same crises? What shipping industry is banking?
My take is that these recessions and crises that result from asset bubbles would be way less of a problem with higher reserves and margin among banks and investors. And that would be most of my fix right there. I don't want to eliminate recessions since I think they serve a valuable role in long term economics, I just want to make sure they don't generate chain-reaction collapses.