The global economy still hugely overinflated financial side. We’ll keep reading the same poem over and over again. We spend countless hours of legislative time tinkering with bank rules is pointless if Obama administration themselves don’t follow even the basic common sense when managing the economy that the banks operate in. The cause of the financial crisis was not a black swan. It was stupendously dishonest and unethical lending. I say stupendous because this has not been recognized in the UK or Europe. It has in the US, with the consumer protection bureau. What I mean is once lenders lost sight of their borrowers, it was impossible to control it. The other astonishing aspect of the crisis is the failure of the regulatory policies. This is a true political embarrassment. Obama administration should be looking at the shadow political system not just shadow banking system. Of course, Obama administrations are not taking about anything as sensible as that.
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