re: #22 Dark_Falcon

Evidence?

Um, you think that they’ve stopped creating securities, or that they’ve suddenly begun doing accurate risk assessments on them, or what?

The regulatory environment is largely the same.

In the matter of the European risks, I don’t think there is much the US can do. We pretty much have to wait in the doldrums for things to be sorted out.

Really? And how will Europe sort out their ‘risks’, eh? I assume you mean their threats of default and the increased financing problems caused by their austerity measures. You mean that private banking in the US is going to have to wait until European governments start stimulus-spending appropriately, or what?

For the remaining housing problems? Yes, that may require government action. I don’t like that idea, but it may not be avoidable.

Okay. Just so I’m clear, the new right-wing economic paradigm is that the private banking industry cannot be depended on, in a time of global economic crisis, to actually help us recover from a recession, they are a passive player in it, only able to react, not to actually provide impetus themselves?