Breaking News: Former Republican Candidate for Governor of Delaware wants to regulate banks
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Comment by on 13 October 2009 at 9:26 am:
You are right to point out the bad actions of many banks. They have gone from too big to fail and now they are too big to regulate.
Sad to say they got a lot of money on a failure model. The hopes would be people would fail to pay credit cards on time, fail to pay mortgages because they covered their bets with financial instruments and all in all got great government money (1%) and loan it out sparingly.
Mike Protack
You see, eventually a Republican even gets it. I hope MP has the money to run this year. I am pretty sure that as a Republican in Delaware that wants to regulate banks, you would get tons of donations.
Too bad you guys block my comments from home but yes Banks must have rational regulation as they perform a necessary function in free enterprise. In the larger picture the SEC was AWOL for many years.
Market discipline must be maintained or otherwise taxpayers have to bail out those who acted do poorly. You can certainly criticize the desire to regulate but then please do not extend your empty hand for a bailout when you make bad decisions.
The catastrophic mess we are in now could have been avoided.
Mike Protack
We have to protect ourselves from rogue wireless routers.
so to have free enterprise you have to regulate it.
How you haven’t been elected still astounds me
Yes, there must be rules and transparency.
Mike Protack