Wednesday, May 23, 2018

The modification of the Dodd-Frank Bill can only lead to a worse Great Recession or Great Depression

What congress is doing right now is what caused the Great Recession in the first place of making rules so lax for banks that they got into trouble last time and destroyed the wealth of the Middle Class in our country by destroying the average person's investment value in their homes. Many many middle class people went bankrupt or lost their homes because of what the government did the last time and this is just more of the same.

Also, the fundamental problems of the last Great Recession were much worse than what Caused the Great Depression. If we hadn't had knowledgeable people in place like Bernanke at the Fed who had studied the Great Depression in his college thesis or Geitner as Secretary of the Treasury we would have bankrupted the whole world completely over time. We only made it out of that alive by the skin of our teeth.

I'm not sure we will be as lucky with the foolish things our Congress is doing now.

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