Yes, GREED is a problem, but it always has been there and always will be.
The reason for the present problem, as for others in the past is DEREGULATION.
In the 1930s it was recognized that Greed would motivate bankers to make risky investments using other peoples` money, hurting those people more than the bankers themselves if the risky speculations failed.
Deregulation of Savings and Loan companies led to a terrible financial crisis in the US in the 1980s. Deregulation of banks and other financial entities involved in real estate have produced this one.
Why wasn`t the lesson learned that REGULATION IS NEEDED TO PREVENT THE HARM OF GREED? Campaign contributions and other money donated to politicians and parties bought deregulation. Now, while the devious people who made this mess (legally because of deregulation) are laughing on their way to the bank, the little people must again pay for everything. |
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