On Wed, 26 Feb 2020 09:43:56 -0500, "Mr. Luddite"
wrote:

On 2/26/2020 9:31 AM, wrote:
On Tue, 25 Feb 2020 18:45:50 -0500, wrote:

https://www.yahoo.com/entertainment/...001809503.html

===

Bloomberg continued, “But seriously. somebody’s gotta stand up and do
what we need. A healthy banking system that’s going to take risks
because that’s what creates the jobs for everybody. And nobody’s
willing to say that. The trouble is, these campaigns in this day and
age, really are about slogans and not about issues anymore."

And he's right of course, but not a popular message.


My limited experience with banks is that they do *not* take risks unless
they are forced to (by the feds) as in the sub-prime loans that led to
the economic collapse of home loans in 2008.

My experiences are limited, I recognize, but I've never seen a
bank take a *risk*, either in personal loans, mortgages or in
business. The loans are always backed by some form of
collateral.

Financial risk takers are private investors, venture capital firms, etc.


The problems started with the banks when Clinton signed the law
repealing Glass Steagall in 1999 and allowed the banks to become like
venture capital firms and stock brokers. Then they were gambling with
their depositor's money.