Tuesday, March 9, 2010

Banks and financial institutions continue operating like the recession never happened


Are you wondering what reforms have been imposed upon the banks and financial institutions that caused our economy to nearly collapse while we were bailing them out? None. Nothings changed. They still play their games. They still hold the strings to power in our capitalistic country.

How much hope is there for real financial reform you may ask? In my opinion, none. Look at those clowns in Congress. They’re so polarized that they can’t agree on the simplest subjects. Throw in the lobbyists for those financial institutions, and you can see why there won’t be any real change in the financial regulatory system soon. Consumers lose as usual. It’s a corporate world after all!

So far in congressional debate, it’s lenders 1, consumers 0

As Congress this week inches toward a new set of rules to avert another global financial collapse, it is focused on two conflicting goals: reforming the banking system to protect consumers while still giving lenders the freedom to take risks.”

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