A collection of articles defining our times. The pages contain clickable links, don't let the titles fool you, some of the best articles have very non-descript titles and there are usually more articles on the matters in the days and week pages the links land on so it's a sort of treasure hunt through history, Enjoy!
Thursday, September 20, 2018
Gary Cohn: WHAT LAWS DID I BREAK?!
Of course no laws were broken. The banks had the right to lend the money they controlled, to any applicant. Does not matter they accepted false, flawed or otherwise unqualified applications. If anything, since it was depositors money, they violated their fiduciary trust obligations, which could be criminal in some cases, but that's a high hill to climb when the very people who will suffer, if the charges are brought, are the very people who are suffering because the charges are not being brought.
Of course, this conundrum was foreseen three score and eighteen years ago when the market had crashed before. Undoing Glas Stegal paved the way for it to happen again. Ignorant people, unwilling to look at the history behind laws someone wants to wipe from the books, to improve the economy, are a constant danger to everyone.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment