General News and Politics By Jim Barber, Camp Verde, Arizona Current news and political discussion
Wednesday, September 4, 2013
The Barber Shop
Five years into the current recession, those responsible still operate "business as usual." Indeed,those entities that were deemed "too big to fail" have grown bigger.
Government efforts, such as Dodd/Frank, have been feeble and the "Volcker Rule", meant to curb banks risk taking, remains unimplemented as regulators vie to protect their piece of the pie. The problem? The incestuous relationship between Wall Street, regulators, lobbyists and politicians whose members rotate through a revolving door from one to another.
Reformers see the same patterns of immoral risk taking emerging that started the problem- with taxpayers, once again, the guarantors.