Nemesis... was the spirit of divine retribution against those who succumb to hubris (arrogance before the gods). Another name was Adrasteia, meaning "the inescapable".Can you feel her coming through the chilling winter air?
The declaration came as an add-on to anti-Wall Street rhetoric she deployed in response to attacks on her acceptance of vast monies from Wall Street:
"There should be no bank too big to fail and no individual too big to jail."
Even worse, her campaign tweeted the aphorism...
"There should be no bank too big to fail and no individual too big to jail." —Hillary #DemDebate
— Hillary Clinton (@HillaryClinton) January 18, 2016
I'm down with that.
ReplyDeleteEric Hines
But who shall play the role of "the kindly ones?"
ReplyDeleteLittleRed1
What utter BS. Banks, like any other business, focus on making money and complying with regulations. Big banks comply with Federal regulations.
ReplyDeleteAt one time, banks protected themselves by establishing guidelines for lending that had to do with the ability to pay. Congress changed that, with the result that large, Federally-regulated banks were required to lend to people lacking the ability to pay (particularly in a downturn.) The banks knew about the vulnerability, and promptly opened up markets for these bad investments. A downturn came, and the market did what markets do. The big banks had trouble, and smaller banks, who were not constrained by Federal regulation, were fine.
The rhetoric about putting bankers in jail focuses on the wrong culprits: Congress did it. It is wholly disingenuous.
George H. W. Bush warned about the looming, obvious problem in January of his first year in office, and kept giving warnings. Barney Frank et. al. had great fun calling him a fool.
Valerie
That's because Frank cashed out of the deals he created.
ReplyDelete