[quote=Daniel]
– people in high positions in the government are not corrupt. But they really believe that a sophisticated financial system is good for the country. It’s been true for so long, after all. The anglo-saxon countries, with deregulated financial systems, did so much better over the past 20 years than the stodgy Continental Europe. [/quote]
“Sophisticated financial system” is at the heart of the issue– isn’t it?
Any mom and pop landlord could tell you that real estate was overpriced back in 2001, 2002. Our “sophisticated financial system” couldn’t figure the same thing out until 2006, 2007…
I agree wholeheartedly that a “sophisticated financial system” is in our country’s best interest. The question is whether the fools that we are spending trillions on right now meet that requirement…
I’d much rather hand, say BB&T, a couple hundred million dollars and tell them to expand their operations than to keep pumping money into Citibank. This is the second time in my lifetime that the gov’t has bailed them out. Enough is enough…
