If Banks are allowed to continue to make “risky” bets, they may bring down our Monetary System again? Hurting how many people, again?
Should we have a wait and see stance? Or should we actively debate and implement the Regulations proposed? Dodd- Frank vs Glass Steagall?
- The Volker Rule proposed is part of the Dodd-Frank Bill. It curtails hedges when Banks use the “peoples” money. What happens when the Banks pay back the money, does the rule cease to exist?
- Do the risky bets, CDO’s, & hedges continue?
The American people are now in the process of shedding their debt. Even in the face of a poor job market, they are acting responsibly. Don’t we have the right to expect our institutions and our elected representatives to act responsibly, too? Let’s stop deliberating and start acting to ensure that effective Regulations are passed, now. If you’re not sure what to propose, put “good” information out there for a real National debate.
Start by re-instating Glass Steagall! Whatever it takes to keep the system “sound”.