In Britain we also had a bank bail-out scandal, over a bank called Northern Rock. My understanding is that there's a cycle:
> greedy banks make dodgey investments
> directors take huge bonuses and deflate bank funds
> bank teters on brink of collapse, which would wipe out small customers' savings
> to avoid above, government bails out bank with taxpayers' money
> bank survives, directors are off the hook and return to collecting fat-cat bonuses
> the only net losers are the taxpayers, who as usual have to suck it up
If Dodd-Frank prevents or inhibits that damaging cycle, then it's a mistake to repeal it, I would've thought.
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"Am I enjoying this moment? I know of it and perhaps that is enough." - Sybille Bedford, 1953
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