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Horat1us_UA t1_jea2tjs wrote

I wonder if the billions regularly needed by classic banks to solve their own problems is not a fraud problem.


Miserable_Unusual_98 t1_jeab51s wrote

Losing customer's money is not a problem when the state replenishes using tax payer money


happyscrappy t1_jedmvom wrote

The banks didn't commit any fraud (generally). They just were idiots with their money. So we could have more regulation to prevent this.

I'm all for it. Put Glass-Steagall back for starters. And we'll build from there.

Make commercial banking boring again.


Horat1us_UA t1_jeevpwy wrote

They “didn’t commit fraud” just because government do not consider their fraud as fraud. Look on Iceland


red286 t1_jebrkm7 wrote

Most banks that get bailed out didn't break any laws. The problem isn't the banks, the problem is the lack of laws stopping banks from gambling with their clients' money. So long as it's not illegal, banks are going to keep doing it, and every time they do, the government in power makes it illegal to do it again, and then the government that follows undoes those regulations, meaning that every ~10 years there's a financial crisis that could have been averted if the regulations that had been put in place last time hadn't been repealed.