Banks seek breathing room with controversial credit relief trades

articles.washingtonpost.com

20 pointswaps3 comments

Nobody should be surprised. Our financial system is currently more vulnerable than in 2008.

It is almost as if we should encourage and promoted smaller failure scenarios by reducing the existence of oligopolies or to use a more familiar term, to big to fail, organisations.

Definitely. Especially organizations deemed "too big to jail" as well as "too big to fail" and with a well-established habit of dodgy practices.

Unfortunately that also makes them sort of "too small to extort"; there are some very good reasons Dodd-Frank enshrined the "too big to fail" institution concept. I've only read some of the material on that bill in http://www.amazon.com/Extortion-Politicians-Extract-Money-Po... but I bet when I get to the details that's part of the reasons.

Jailing is only something ambitious DAs and Attorney Generals want to do; milking firms is where the money is for those already politically established.

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