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1970s Crisis – Is it the Same This Time?
Well, what a year it’s been… High street banks in crisis, investment banks closing their doors, ‘experts’ pointing fingers, and SERIOUS questions asked of the Financial regulators. Yes, what WERE the regulators doing on both sides of the Atlantic? And to cap it all, a $50bn (expected) fraud uncovered in the US. Is there more to come, one wonders?
Bailed-Out Bank Executives to Have a Nice ChristmasFrank Bass and Rita Beamish, Associated Press Writers, reported that the incompetent executives of the banks that received the Congressional Bail-out stuffed $1.6 Billion Dollars into their own pockets. What will Congress do about it. You know what they will do, nothing! Here is what I would do.