Off-Topic: Banks need regulation

Logan Martin Lake Topics

(Logan Martin Lake Specific)

4,319 messages

Updated 7/5/2024 7:54:28 AM

Off-Topic

Lakes Online Forum

83,787 messages

Updated 7/26/2024 4:03:04 PM

Boat Maintenance

Lakes Online Forum

5,199 messages

Updated 7/19/2024 2:31:51 AM

Logan Martin Lake Fishing

(Logan Martin Lake Specific)

126 messages

Updated 12/23/2022 9:21:15 AM

Jokes

Lakes Online Forum

4,171 messages

Updated 6/27/2024 7:05:46 AM

Sports

Lakes Online Forum

4,261 messages

Updated 5/28/2024 6:31:10 AM

Grilling & Recipes

Lakes Online Forum

2,979 messages

Updated 6/26/2024 5:03:03 AM

Tallapoosa River Topics

Lakes Online Forum

98 messages

Updated 4/15/2024 1:00:58 AM

Forum Usage Rules

Welcome, Guest

Select View Mode: [ classic | beta | recent ]

	Name:	MartiniMan -
	Subject:	Banks need regulation
	Date:	1/24/2010 12:28:04 PM

OK, I know understand the Goldman point and no, I was not aware they converted to a bank holding company in 2008. Regardless, I assume they made this switch because they perceived some business benefit. Considering half of the political appointees in Treasury come from Goldman I doubt they fear the regulator and probably weighed the pro's and con's of the switch and decided the upside was sufficient.

That Goldman switched to a bank doesn't negate the fact that there are a total of thirty four separate subparts to the Code of Federal Regulations (CFR) that apply to the banking industry (12CFR). From Wikepedia: "In the United States, the banking industry is a highly regulated industry with detailed and focused regulators." From a recent paper written by PhD candidate at NUS Business School: "Banking is the most highly regulated industry in the U.S." From Business Week who apparently read Wikipedia: "The banking industry is a highly regulated industry with focused regulators." I could go on and on but the only point it would prove is that Goldman switching to a bank has zero bearing on whether the industry is or is not heavily regulated. It is just a fact that banking is highly regulated in this country, a fact being one of those stubborn things that drive liberals crazy.