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bballcrook21
Posts: 4,468
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8/18/2016 4:08:19 AM
Posted: 3 months ago
The bailouts 7 years ago proved that our banks had become so large that we couldn't let them fail. They'd become "Too Big To Fail." The congress responded by passing a massive new regulation bill, the Dodd"Frank Wall Street Reform and Consumer Protection Act, to deal with the problem. The result?

Too Big To Fail has gotten worse. And now we have "Too Small To Succeed." The regulations made it impossibly difficult for small community banks to exist. The little guys simply can't compete anymore. We have more and more big banks. Loans are determined by computer models and algorithms instead of real people who live and work in our community. And, as the graph shows, Too Big To Fail has gotten much worse.

SOURCES: http://online.wsj.com...

https://research.stlouisfed.org...

https://research.stlouisfed.org...
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
NHN
Posts: 624
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8/18/2016 9:03:24 AM
Posted: 3 months ago
At 8/18/2016 4:08:19 AM, bballcrook21 wrote:
The bailouts 7 years ago proved that our banks had become so large that we couldn't let them fail. They'd become "Too Big To Fail." The congress responded by passing a massive new regulation bill, the Dodd"Frank Wall Street Reform and Consumer Protection Act, to deal with the problem. The result?

Too Big To Fail has gotten worse.
Interestingly enough, Chris Dodd (D-CT) chaired the Senate Banking, Housing and Urban Affairs Committee 2007-2011, first overseeing the crash and then "facilitating" the aftermath. Meanwhile, Barney Frank (D-MA) chaired the House Committee over the same time span, doing the exact same thing. The two worst legislators of the 2008 crash got together and wrote a bill that will hurt the economy for decades.
bballcrook21
Posts: 4,468
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8/18/2016 4:09:40 PM
Posted: 3 months ago
At 8/18/2016 9:03:24 AM, NHN wrote:
At 8/18/2016 4:08:19 AM, bballcrook21 wrote:
The bailouts 7 years ago proved that our banks had become so large that we couldn't let them fail. They'd become "Too Big To Fail." The congress responded by passing a massive new regulation bill, the Dodd"Frank Wall Street Reform and Consumer Protection Act, to deal with the problem. The result?

Too Big To Fail has gotten worse.
Interestingly enough, Chris Dodd (D-CT) chaired the Senate Banking, Housing and Urban Affairs Committee 2007-2011, first overseeing the crash and then "facilitating" the aftermath. Meanwhile, Barney Frank (D-MA) chaired the House Committee over the same time span, doing the exact same thing. The two worst legislators of the 2008 crash got together and wrote a bill that will hurt the economy for decades.

As if legislation was to "help" anything. If the economy is doing perfectly, people are making money, there is low unemployment, etc. then there is nothing for government to do, and that's an issue for those in power.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.
NHN
Posts: 624
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8/18/2016 11:50:35 PM
Posted: 3 months ago
At 8/18/2016 4:09:40 PM, bballcrook21 wrote:
As if legislation was to "help" anything. If the economy is doing perfectly, people are making money, there is low unemployment, etc. then there is nothing for government to do, and that's an issue for those in power.
That's the thing, these shady legislators fear market competition; they seek the equality of outcome, not the equality of opportunity.
bballcrook21
Posts: 4,468
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8/19/2016 12:08:29 AM
Posted: 3 months ago
At 8/18/2016 11:50:35 PM, NHN wrote:
At 8/18/2016 4:09:40 PM, bballcrook21 wrote:
As if legislation was to "help" anything. If the economy is doing perfectly, people are making money, there is low unemployment, etc. then there is nothing for government to do, and that's an issue for those in power.
That's the thing, these shady legislators fear market competition; they seek the equality of outcome, not the equality of opportunity.

Equity is more desirable for them than success of those who try
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. - Friedman

Underlying most arguments against the free market is a lack of belief in freedom itself. -Friedman

Nothing is so permanent as a temporary government program. - Friedman

Society will never be free until the last Democrat is strangled with the entrails of the last Communist.