Business Insider: Having spent billions of dollars on post-crisis U.S. financial industry reforms they once scorned, bankers are concerned the Trump administration, joined by a like-minded Congress, will scrap or significantly change the rules.
To comply with a rule known as Dodd-Frank, which was enacted in 2010 following the financial crisis, big U.S banks hired tens of thousands of staffers, built new technology systems, hived off businesses, simplified corporate structures and doubled the amount of capital they hold.
And when politicians are having trouble, then they regulate, or price fix, so debt suppliers have dough-re-me.
A better solution would be to separate the government from banking all together, and let the bots automate finance. With %100 probability, government bankrupts once a generation. Why get the banks involved at all?
No comments:
Post a Comment