Tue, 7 February 2017
Same people who blame 2008 financial crisis on partial repeal of Glass-Steagall (deregulation) think Dodd-Frank bill (more regulation) will prevent the next financial crisis.
The 2,300 page Dodd-Frank bill that was passed into law back in 2010, is seen as a way to prevent another 2008 like event. This line of thinking is totally out of wack with reality and another financial crisis is coming! Politicians always think if we just add another regulation that will protect us but unintended consequences come with these new regulations and Dodd-Frank is full of them! The partial repeal of Glass-Steagall is seen as the deregulation that led to the financial crisis in 2008, this is not the case at all! Even if there never was a repeal of Glass-Steagall at all we still would’ve had the financial crisis in 2008!