From BBC News.
Here we go.
Anybody remember 2008-2009? Anyone get hurt that year?
I did. I lost my job. So did my wife. It was terrifying.
Shock and dismay!!
I really don’t think some people have a good understanding of what happened in 2008. Nor do I think people realize Dodd Frank did not cure what was wrong. And after eight years, the situation is every bit as perilous as it was before.
I actually do have a good understanding of what happened in 2008.
And Dodd-Frank wasn’t a cure-all, that’s true. It’s got plenty of holes, and some of the practices that led to the financial crisis are still permitted. But it’s better than nothing.
We have seen that an un- or under-regulated financial industry is a time bomb waiting to go off. Wall Street doesn’t have much in the way of a conscience.