Lest you fret gentle consumer, our world’s corporate and financial leaders seem to be taking giant strides in the areas of reform.
Reforms that would make the likes of Adam Smith shake his head… and maybe go play some pinball.
Our financial and fiduciary leaders bring us INSIGHTS, such as SAVINGS and COLLATERAL!
Alas, the world these titans operate in hardly seems to resemble the one inhabited by us lesser mortals.
“In their latest bid to reduce the chances of future taxpayer bailouts, federal regulators are proposing that the eight biggest U.S. banks build new cushions against losses that would shift the burden to investors.”
“The idea is that the cost of a huge bank’s failure would fall on investors in the bank’s equity or debt, not on taxpayers.” -hmm, how novel!
Now lest you wonder why these financial giants would choose to take steps preventing a future economic meltdown, the likes of 2008, from happening again, when so many of them at that time reaped such a bountiful harvest, please understand:
“If formally adopted, most of the requirements wouldn’t take effect until 2019, and the remainder not until 2022.”
Please read the article below.