phil spade
@Phil · 3:56
Barney Frank sits on the board of Signature Bank: Is financial regulation of banks even possible?
On the surface of things, if the man who was responsible for writing stringent bank regulations for banks not taking excessive risk sits on the board of a bank that was shut down for taking excessive risk, then how on earth are we ever going to have financial regulations? It seems like it could be an impossibility. Now, in an interview with Bloomberg on Sunday, barney Frank partly blamed cryptocurrencies, which hadn't existed in 2008, but he said that digital currency was the new element into our system
Yeah, we have things like securities Exchange Commission and we have other branches, but this really would take a lot of manpower and a lot of diligence on a regular basis that banks would then have to comply with
phil spade
@Phil · 2:34
Kurt you really asked the main question that needs to be asked, you know, who is going to be regulating and how are they going to be regulating? Because as far as I know it, regulations were here. And I know that bank executives really fought tooth and nail to get them to not apply to them