Tag Archives: Politic and The Banks

It has become very clear to most Americans that the big banks are the reason our economy is suffering so badly right now. The body politic does not agree with the politics of the bank even as the government has encouraged them to change their ways. Over the past thirty years the banks have become increasingly deregulated allowing them to take risks with the public’s money. The recent housing bubble that burst was started essentially because big banks were making bets on their bets dealing with mortgages. This was rather easy to get away with because the body politic did not understand what they were doing. Since the housing bubble burst at the end of 2007, our elected officials have been scrambling to try to figure out what to do. Unfortunately, politics got in the way and the problem has yet to be solved. As of now, no new regulations have been placed on the banks. This means the actions they took that got us into this mess are still perfectly legal. At a time when our economy is not too far from where it was during the great depression, we need to put politics aside. The body politic wants … Continue reading