The bankers wrote and continue to write the banking regs, and where they do not completely write them, they have still a heavy hand on the wheel, and there's the revolving agency door.
The deregulation under Trump is not the problem here, he was evening the field for the smaller banks against the large ones. But yes, I'd agree when you se…
The bankers wrote and continue to write the banking regs, and where they do not completely write them, they have still a heavy hand on the wheel, and there's the revolving agency door.
The deregulation under Trump is not the problem here, he was evening the field for the smaller banks against the large ones. But yes, I'd agree when you see deregulation coming through Congress we have to wonder too.
That fractional holdings reg has of course lowered that fraction amount repeatedly.
Fraud and self-serving is so pervasive as to be rampant at banks, as we suspect and know. I knew a guy that a local state bank would send out to go through the books, the desks, the drawers, the file cabinets and cardboard boxes - everything of a branch's management. He'd come in at night and when he inevitably found it he'd call the bosses, who would then meet him early before opening, get the locks changed and go from there.
One of many things so difficult about banks, is they get the confession out of the employees, then they rarely prosecute because they do not want the banks to appear unsound in any way. I was my county's prosecutor for some of this 20 years ago, and argued the opposite - that the public would see the bank cracking down on fraud and theft and feel more confident.
Further digression - this grandstanding commitment to further disaster, as far as I can understand it:
The bankers wrote and continue to write the banking regs, and where they do not completely write them, they have still a heavy hand on the wheel, and there's the revolving agency door.
The deregulation under Trump is not the problem here, he was evening the field for the smaller banks against the large ones. But yes, I'd agree when you see deregulation coming through Congress we have to wonder too.
That fractional holdings reg has of course lowered that fraction amount repeatedly.
Fraud and self-serving is so pervasive as to be rampant at banks, as we suspect and know. I knew a guy that a local state bank would send out to go through the books, the desks, the drawers, the file cabinets and cardboard boxes - everything of a branch's management. He'd come in at night and when he inevitably found it he'd call the bosses, who would then meet him early before opening, get the locks changed and go from there.
One of many things so difficult about banks, is they get the confession out of the employees, then they rarely prosecute because they do not want the banks to appear unsound in any way. I was my county's prosecutor for some of this 20 years ago, and argued the opposite - that the public would see the bank cracking down on fraud and theft and feel more confident.
Further digression - this grandstanding commitment to further disaster, as far as I can understand it:
https://www.jec.senate.gov/public/index.cfm/democrats/press-releases?ContentRecord_id=5C59614C-AF33-4263-810C-CF898C8C6BBB
There was a lot of deregulation under Clinton.
The joke is that Clinton passed what the GOP couldn't do.
Both parties serve the same masters.
Agreed. And themselves and each other, very often.