“A zillion other improvements could be made to home mortgages.”
I mean, this basically says it all. The system is so convoluted that there are endless ways to go in either direction — to spur speculation or to walk those same policies back. If banks continue to be too big to fail, then it doesn’t much matter if they are temporarily saddled with some accountability above what little they have now — if they blow through their own customers as the first line of defense, the taxpayers will reluctantly pick up the tab.
We definitely need to instill a desire to change course.
“A zillion other improvements could be made to home mortgages.”
I mean, this basically says it all. The system is so convoluted that there are endless ways to go in either direction — to spur speculation or to walk those same policies back. If banks continue to be too big to fail, then it doesn’t much matter if they are temporarily saddled with some accountability above what little they have now — if they blow through their own customers as the first line of defense, the taxpayers will reluctantly pick up the tab.
We definitely need to instill a desire to change course.
100%