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View Diary: Crumbs much too small for the other Whos' mouses (199 comments)

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  •  I think most banks are still doing plain old (2+ / 0-)

    ordinary banking--taking in deposits and making loans, maybe with a sideline in fairly vanilla investment management. But we have a few giant banks for which that apparently isn't even close to generating enough profit. They are involved as the diary says in all kinds of speculation. And even they occasionally fall victim to it, for example Credit Suisse, which was taken to the cleaners by one of its own traders. That this level and kind of speculation needs to be reined in should be obvious, but there is still a lot of resistance to regulation, and Dodd-Frank may not accomplish enough of it.

    •  Regulation is meaningless if there is not (2+ / 0-)
      Recommended by:
      Egalitare, NoMoreLies

      the will to enforce it. Remember Brooksley Born, 7th Chairman of the Commodity Futures Trading Commission, who wanted to regulate derivitives, and got run out of town? http://en.wikipedia.org/...

    •  Even local banks do it (0+ / 0-)

      We had one here in Columbus, indiana, Irwin Union Bank and Trust, that destroyed itself in the housing bubble.

      In the Savings and Loan debacle, over a thousand bankers were prosecuted, and more than 800 went to prison. This time, nothing. I consider that and the refusal to go after the Bush-era war criminals to be by a wide margin the greatest of Barack Obama's sins. Even with that, of course, he is vastly better than the alternative.

      America—We built that!

      by Mokurai on Sun Dec 16, 2012 at 11:45:20 AM PST

      [ Parent ]

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