13 Bankers

P. 148.

"The collapses of Enron, WorldCom, and other high-flying companies in 2001-2001 also should have made clear that free markets did not deter fraud on their own."

No shit Sherlock.

Umm, with the spoiled ass frat boys in charge of not only regulating finance, but running the country some of us knew that something stunk to high heaven even if we had no idea at the time what securitized bundling of mortgages, or credit default swaps were. I'm hoping that somewhere in this book before I finish it are some simple steps to turning regulatory agencies back into regulatory agencies instead of allowing them to continue whoring for the banksters. I certainly knew something stunk in May of '06 when I temped at a JP Morgan office that processed mortgages for 4 days and I had never laid eyes on a mortgage file, nor did I know anything about banking. And they didn't want me learning.

OK, finished the book. Three things screamed at me constantly as I read 13 Bankers:

1) Too Big to Fail is TOO FUCKING BIG

2) These banking crises keep happening when the greedy push for and get deregulation through our bought and paid for congresswhores.

3) Obama has a chance to reform, re-regulate and stop the next economic crisis, and it will be catastrophically devastating if he doesn't.

Yeesh I hate Republicans. No, I really hate them.

They are insane.

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