2016 Postmortem
In reply to the discussion: PSA: How many people here who love to hate "Wall Street" actually know what it means? [View all]Armstead
(47,803 posts)I know that sounds simplistic, but basic principles are basic principles."Modernization" is too often used as a code word for deregulation that creates and ingrains systems that allows bad things to be done.
Reasonable speed limits should not be raised just because cars have been manufactured that are designed to be able to go faster. The speed limit is based on safety. Just as the restrictions on financial institutions are (were) based on what is financially responsible.
Our previous deregulations created the framework for this baroque overly complex and abusive system. Modernizatioon should not be used to perpetuate and further embed the abusive aspects of it, like we did in the 90's.
Maybe Clinton and her political alliances and loyalties have changed enough to actually go afters the root causes. Maybe not. But I don't think the same team that helped to cause problems should be the one we ask to fix them.