Crony capitalism as a factor in the financial crisis

I have two posts on my other blog, Outrun Change, discussing the $8.5 billion settlement between 10 big banks and the regulators. The settlement is for harm caused by the banks during foreclosures arising after the financial crisis of 2008-2009.

I have the posts on that blog because I’m discussing the banking industry there.

I have a link on this blog because of the role regulators and crony capitalism played in contributing to the crisis.

Pondering the Foreclosure Settlement – 1 describes the settlement and discusses two perspectives on the settlement.

First, maybe the banks got off easy. Second, maybe the settlement is a shakedown of the banks.

In Pondering the Foreclosure Settlement – 2, I suggest there are additional questions we need to ask about the financial crisis.

For example, what role did the regulators play in missing this horrible, massive, crime-of-the-century? Also, we need more sunlight on the very generous loans made by some players to key congressional staff and elected officials.

Check out the posts for more discussion.

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