What has been done to prevent another banking meltdown?

[MannyGoldstein]

Stiglitz says that nothing's changed, that we're more screwed than before. I can't think of even a single new banking regulation that's been passed. Am I forgetting something? Proposals don't count.

[BlooInBloo]

1. As of 7 months, nothing.

[izquierdista]

2. Squat

Zip, zilch, nada, goose egg, bupkis, hen's teeth, a mirage. And there are two chances of getting some more regulation -- fat and slim.

[Feron]

3. From what I understand,

they're already inflating another bubble with life insurance policies.

So nothing has changed.

[Ramulux]

4. Not all Hope is Lost

Well there is Ron Paul's bill to audit the Federal Reserve. Last I checked it had gotten like 240 cosponsors and had been passed onto some committee for review. Besides the health reform bill, I think this is the most important piece of legislation to be created during Obamas term so far. If it actually ends up passing this could be monumental in regards to returning the dollar to a sound currency.

[Nay]

5. Not one damn thing--a case could easily be made that what we have

done is made sure the next meltdown will be 10 times worse than the meltdown we should have let happen last year.

[Ramulux]

6. Federal Reserve

So you do not think auditing the federal reserve would do anything?

[Tansy_Gold]

7. But Obama's only been in office nine months!! What do you want?

Miracles?

Give him time!

Have patience!

You're all PUMAs, still fighting for Indiana or Pennsylvania or. . . .


whatever.


All :sarcasm: aside, no nothing has changed. Nothing has been done. It's as bad as it was last year only worse because it's a year later and nothing has changed.

Well, except that we traded paulson for geithner and bernanke for, oh, wait, we still have bernanke. Citigroup was supposed to implode but it didn't and AIG got bazillions and hasn't done anything with them that anyone can see except maybe give most of 'em to Goldman Sachs, from whence came Paulson and bernanke anyway. Morgan Stanley Binney & Smith is the new company with a century of experience and now commercial real estate is imploding and thousands of empty ships are drifting at sea and there are miles and miles of empty freight cars in the desert.

But we've reached the bottom and hope is audacious and we're about to turn the corner and the war in Afghanistan is heating up but Bin Laden -- who's he? -- is still around........somewhere.....


Tansy Gold, who is very much aware that Smith Barney is the investment company and Binney & Smith is the Crayola company.

[FarCenter]

8. Bank reserves have been increased significantly; most US mortgages are now backed by the taxpayers