re: #33 garhighway

Here’s a really good question:

How much should the banks that made such a mess out of the mortgage marketplace be punished for that, and what exactly should we be trying to accomplish with that punishment: structural reforms, better process, a simple financial penalty, or what?

[Link: www.nytimes.com…]

The lead paragraph:

Even as state attorneys general and regulators in Washington approach the end of their investigation into abuses by the nation’s biggest mortgage companies, deep disputes are emerging over how much to punish the banks as well as exactly who should benefit from a settlement.

We need to make sure that banks are never again in the position to blackmail the government out of a bailout in order to keep the economy from tanking.

i.e., if it is Too Big to Fail, it is Too Big to be Unregulated.

And if that means more government regulation, then that is a cheaper and better alternative to what we did in 2008 and 2009.