I only agree with half of what he is saying. Either lack of regulation or the lack of enforcement of the regulations got us into this mess. A good example is the elimination of the Glass/Steagall Act.
I do agree with him that the people of the SEC are not given any teeth and it is not their fault (not unlike most federal regulatory agencies). Everything is ruled by Congress and Congress wants to give the public a false sense of security and spend money on the appearance that laws (regulation is law) are being followed and enforced.
i couldn’t agree with you more. i’ve been wondering for a year why more people hadn’t brought up the repeal of the glass/steagall act???? in my opinion, you can trace this entire mess back to that. it’s no coincidence that when we did away with an act that was a direct result of the depression, we are where we are less than 10 years later!!!
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I only agree with half of what he is saying. Either lack of regulation or the lack of enforcement of the regulations got us into this mess. A good example is the elimination of the Glass/Steagall Act.
I do agree with him that the people of the SEC are not given any teeth and it is not their fault (not unlike most federal regulatory agencies). Everything is ruled by Congress and Congress wants to give the public a false sense of security and spend money on the appearance that laws (regulation is law) are being followed and enforced.
i couldn’t agree with you more. i’ve been wondering for a year why more people hadn’t brought up the repeal of the glass/steagall act???? in my opinion, you can trace this entire mess back to that. it’s no coincidence that when we did away with an act that was a direct result of the depression, we are where we are less than 10 years later!!!
Thanks AZSALUKI
Usually I agree with Ron Paul.
Igor says “astounded”