If It Weren't For Lobbyists.

       Do you remember way back when bank lobbyists were still writing any legislation that had to do with banking issues? Then finally came the financial crisis of 08 and 09. Well guess who's back in the business of writing legislation for financial regulations? Now I understand that Congress isn't peopled with great financial minds. Many of the technicalities associated with banking and the regulating of its activities are very complex.

       I understand that, but what I don't understand is why would you turn over the responsibility of writing these regulations to the very same people that got us in trouble five years ago? Over the years these same lobbyists convinced successive Congresses that existing tough regulations were no longer needed. They explained the banking community was much too sophisticated to allow any trouble to overtake them.

       But then, to the great surprise of Congress, these very sophisticated lenders and investors did allow trouble to overtake them. Now wouldn't you have thought they might have tucked their tails between their legs for just a short time at least? Certainly not. They almost immediately warned of over regulating. Then they were quick to point out that some were too big to fail and some were even too big to convict.

       Now since there is nobody in this entire country who is not already in the employ of the banking industry with the understanding of the complexity of the industry to write these regulations except the lobbyists of the banking industry. Ya see how neatly this all falls into place? So lets's recap this story. First banks say they're too smart. Then they prove they're not. Then they claim nobody else is smart enough. Then they start rewriting the regulations again. Ya gotta love em. They're killing us, but ya gotta love em.