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Originally Posted by uptown_isy
Once the government decides how much money one can make in the banking industry, where will it stop? It's a slippery slope, for sure, and it just opens the way for the government to regulate the pay in other industries, as well. Personally, I don't own a yacht....but I have no problems with those that do. If I could afford one, I'd have one. Just my opinion.
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Quote:
Originally Posted by The Poet
So would I, and I'd invite you and Andy for a cruise. As for government regulation - well, they tried to let the finance industry regulate itself, and you can see where that got them, and all the rest of us. It did not work. If they don't like the idea, then tough $#!+, since they asked for it.
Avarice is one of the Seven Deadly Sins, not a proper business model.
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Self-regulation wasn't the problem in the finance industry. It was the loans and mortgages that the banks were forced to give (b/c Clinton, Frank, and Dodd thought that people who had no or bad credit needed to have the ability to take out humongous loans w/o the ability to pay them back) that put the finance industry where it is today. That's why Fannie Mae and Freddy Mac were the first to go (they were forced to buy up all of these loans that...
well that's another issue in and of itself).
I will take you up on that cruise offer when you get your boat! Sounds like a good place to herf!
