Bank Reform Now!

Alright! Bank-o-rama Debate 2010 Begins!!! Here we go again, republicans screaming "big government" and "free market". Well, not all of them, I think that some do recognize that they walk a very slippery slope with this issue. If they take a hands off approach to Wall Street as some repubs have said, then they risk looking like they think business as usual (exorbitant bonuses and the like) is just fine in their book. Which in turn pisses off their constituents and they possibly don't get reelected. Now, this creates something very positive in my eyes, I don't think that there will be as much trouble passing this bill as with healthcare. Simple reasons, America is very unhappy with the banking industry right now, bail outs, bonuses, difficulty for business to procure the necessary loans needed to keep going. And with all of this, there are still people saying, "Whoah, slow down a minute, who better to police the industry than the industry itself!" Yes...because they've done such a great job prior to this. Give me a break!

One myth going around is that there is going to be a 50 Billion dollar fund created to bail out failing businesses. This is partially true, there is going to be a 50 Billion dollar fund, but it's not for bail outs...it is in fact going to be used to shut those businesses down, so not to burden the rest of the market. And by the way, it's being funded by the banks, not the taxpayer. Also, the myth of government is going to run American business. False again, by making it illegal to peddle unethical, dangerous investments is not controlling business, its making it safe for investors. So they don't have to fear if the brokerage firm they're with is giving them an above board investment or poison.

Every investment has some sort of risk that comes along with it, but when the firm you're a client of is purposely selling you something they know is going to fail...and to add insult to injury are betting against you at the same time. Damn, that's just messed up. I don't remember learning that in business ethics class. And what's wrong with giving shareholders more voting power in the companies that they buy stock in? I don't understand why you wouldn't want reform in this industry, no wait, yes I do! Good old fashioned American GREED! The attitude of "Screw em all, I got mine!" Yeah...I can't get on board with that.