Re: Shares slump on European bank fears

[Guest guest]

The banking industry was simply allowed to get out of hand. Banks got enormous and branched into too many different areas for their own good. Sure it was convenient having investments through your bank, but it also increased the risk of the bank folding.

Some of the old laws made a great deal of sense. Smaller regional banks for most people worked just fine. Specialist international banks could be separate entities that handled international business and tourist transactions. A lot of other things also made sense. The only thing that didn't happen was the passage of laws to prevent unqualified politicians from interfering and making a mess of things as they imposed their personal agendas on the market. A simple set of rules keeping things honest and open was all that was needed. Maybe a non-partisan economic group to watch out for certain things and issue warnings, like those derivatives that got us in this mess.

In a message dated 6/29/2010 12:38:21 P.M. Eastern Daylight Time, no_reply writes:

Shares slump on European bank fears