of all the major failures of the last hundred years or so. I don't see any improvement until that underlying cause is removed.
Each failure of the system has been patched up so far, with varying degrees of success, but no solution will be permanent until that cause is removed.
To pick just one example, The S & L meltdown was also due to shady property dealing. Now the same factor threatens the bank system. The bailout then (it was said) cost as much money as the "peace dividend" was supposed to have given the US, after the Soviet Union fell apart. One could have hoped for at least a permanent solution for the outlay. And Western political and social security- not to mention the world's- is certainly no better than the days of MAD. Even though there are no nuclear powers threatening to launch if 'the line is crossed' ... That's true, right? The world has learned to settle its territorial problems peacefully, right?
Remember when banks were failing during the '80's and what it took to get back. During that time, I didn't have a job and really had to press myself to get one. It pretty much like it's becoming now. I was in Oklahoma during those times and believe me, the news when a bank failed or yet another, was common talk. People were nervous, after all, something like this didn't happen since 1929. So, what did banks ask for, they wanted other avenues and polices(services) to offer to clients/customers that weren't traditional as in real estate home loans. Now real estate loans are the crux of today's bank failures but not really when you think it "mortgage lenders" outside of traditional banks but they deal with banks and seem hand-in-hand fall together. We like to think they know what they're doing but it appears they rode the bubble too long and fell when it burst, plus I think plain greed is again riding herd. What do you think? -----Willy