Transparency

transparency

When we know what's going on we can change it.

 

Knowledge

knowledge

The more we know, the better ideas we have.

 

Rationality

rationality

The more objective thinking we do the better decisions we make.

 

Compromise

compromise

We all live together and and depend on each other.

 

The portions of the Glass-Steagall Act that separated traditional lending banking from securities activities should be reinstated. The intractability of "too-big-to-fail" banks and the risks of creating, buying and selling complex securities are too complicated to "fix" after the fact.

Is is generally easier to prevent damaging acts then it is to repair damage after the damage has occurred. The complicated banking regulations, requirements, costs and oversight are like trying to plug 20 holes in a dyke with ten fingers. It is better to prevent the melding in the first place and allow banks to decide whether they want to be deposit/lending banks or investment banks.

“I believe that banking institutions are more dangerous to our liberties than standing armies.” ― Thomas Jefferson

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