I'm all about punishing those who perpetrated fraud, but I don't think he understands what the damage would be to the US and world economy as a result of Bank of America going under.

Can't make an omelet…

>> ^heropsycho:

I'm all about punishing those who perpetrated fraud, but I don't think he understands what the damage would be to the US and world economy as a result of Bank of America going under.

You can make an omelet without turning the gas up all the way for a few minutes and then light a match.

Instead of letting BoA fail, which likely would trigger another massive recession and undoing the economic rebound since the crash, why can't we...?

Institute regulations to prevent the fraud in the first place?

Massively commit to and reform regulatory bodies to be able to enforce these regulations?

Bring those responsible for fraud to justice?

Reinstitute Glass-Steagall?

There are a ton of things that can be done without letting a BoA fail with the economy still fragile.

>> ^bookface:

Can't make an omelet…
>> ^heropsycho:
I'm all about punishing those who perpetrated fraud, but I don't think he understands what the damage would be to the US and world economy as a result of Bank of America going under.

Those are all fine ideas but the time for them has passed. If our leaders had the integrity, ability, etc. to do as you suggest then there wouldn't be an Occupy movement. If our politicians, judges, and other civilian authorities were not wholly owned subsidiaries of the banking industry then I think the suggestions you make would have a good shot of happening.

>> ^heropsycho:

You can make an omelet without turning the gas up all the way for a few minutes and then light a match.
Instead of letting BoA fail, which likely would trigger another massive recession and undoing the economic rebound since the crash, why can't we...?
Institute regulations to prevent the fraud in the first place?
Massively commit to and reform regulatory bodies to be able to enforce these regulations?
Bring those responsible for fraud to justice?
Reinstitute Glass-Steagall?
There are a ton of things that can be done without letting a BoA fail with the economy still fragile.
>> ^bookface:
Can't make an omelet…
>> ^heropsycho:
I'm all about punishing those who perpetrated fraud, but I don't think he understands what the damage would be to the US and world economy as a result of Bank of America going under.

Letting BoA fail won't do much of anything to prevent other banks from doing what they shouldn't be. And the simple fact is BoA or any corporation that size isn't monolithic. Some people had nothing to do with the fraud, and would lose their jobs.

Not to mention what it would do macroeconomically to the US.

>> ^bookface:

Those are all fine ideas but the time for them has passed. If our leaders had the integrity, ability, etc. to do as you suggest then there wouldn't be an Occupy movement. If our politicians, judges, and other civilian authorities were not wholly owned subsidiaries of the banking industry then I think the suggestions you make would have a good shot of happening.
>> ^heropsycho:
You can make an omelet without turning the gas up all the way for a few minutes and then light a match.
Instead of letting BoA fail, which likely would trigger another massive recession and undoing the economic rebound since the crash, why can't we...?
Institute regulations to prevent the fraud in the first place?
Massively commit to and reform regulatory bodies to be able to enforce these regulations?
Bring those responsible for fraud to justice?
Reinstitute Glass-Steagall?
There are a ton of things that can be done without letting a BoA fail with the economy still fragile.
>> ^bookface:
Can't make an omelet…
>> ^heropsycho:
I'm all about punishing those who perpetrated fraud, but I don't think he understands what the damage would be to the US and world economy as a result of Bank of America going under.