General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Financial Banking Crisis we are not seeing.
There is one going on, we might hear from some in the Financial world, or it may not be reported.
But we will face a banking crisis, because that is what happens when Republicans are in office.
Except this one is worse.
During Reagan there were many warnings about the abuse in the Savings and Loan Industry, Reagan's answer was "We are Republicans, we don't regulate". The result was a banking crises that caused a Market crash and cost the taxpayers billions and billions of dollars.
During Bush there was overwhelming evidence of a housing bubble tied to an over leveraged bond market that was sure to collapse. Rather than reign it in, they poured fuel on the fire. This resulted in the biggest economic collapse since the Great Depression. Cost to the taxpayers (not counting loss of personal wealth) half a trillion dollars.
This time it is more than no regulation, this administration doesn't even really monitor the financial institutions. God knows what nefarious crap they are up to, but we do know the eventual result, another financial collapse. With the taxpayers footing the bill.
Think. Again.
(22,456 posts)SheltieLover
(76,806 posts)Clouds Passing
(7,001 posts)When is it all going to collapse, that is the question. Everyone take care of yourselves.