Banks are utilities and should be nationalized. Time and again banks have proven they are horrible at understanding and taking risk. Leave the risk taking to hedge funds and other private investors who cannot undermine the entire global economy. We need to go back to a banking model like that in the 70/80s when regional banks dominated in the US. The system then provides a natural circuit breaker in the banking system.
And I love how Mr. Lewis states that TARP funds are loans that will yield 5 to 8 percent to the taxpayers. He's completely ignoring the fact that the recovery of the funds is highly questionable. There's plenty of other amusing statements by him that are either one-side or simply untrue.
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Banks are utilities and should be nationalized. Time and again banks have proven they are horrible at understanding and taking risk. Leave the risk taking to hedge funds and other private investors who cannot undermine the entire global economy. We need to go back to a banking model like that in the 70/80s when regional banks dominated in the US. The system then provides a natural circuit breaker in the banking system.
And I love how Mr. Lewis states that TARP funds are loans that will yield 5 to 8 percent to the taxpayers. He's completely ignoring the fact that the recovery of the funds is highly questionable. There's plenty of other amusing statements by him that are either one-side or simply untrue.
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