More Regulation Won’t Solve Problem of Government Favoritism in Banking

Peter Schiff raises some good points, asking why we should trust the government to solve the problems of the financial sector when the system is deliberately skewed to allow big banks via the Federal Reserve to prosper at everyone else’s expense. These same regulators couldn’t identify the largest bubble ever to exist on earth, and we’re supposed to believe they’ll actually do a good job watching over the most powerful industry with some of the greatest political connections in D.C.? Half of those behind the government bailouts were bailing out good friends and colleagues on Wall Street with whom they used to work!

What’s the definition of insanity? Doing the same thing over and again and expecting a different result with each try.

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