The U.S. government and the Department of Justice are welcoming more financial malpractice by not prosecuting anyone for substantial wrongdoing in the 2008 crisis.
Dallas, TX (PRWEB) August 28, 2015
This week’s stock dive and recovery is just one of the many market indicators of a possible financial meltdown, warned National Center for Policy Analysis President/CEO Allen West and Financial Crisis Institute Contributor Richard Bowen in a new commentary.
“This week’s stock market roller coaster shows just how vulnerable the U.S. economy remains to economic turmoil,” cautioned Bowen. “The U.S. government and the Department of Justice are welcoming more financial malpractice by not prosecuting anyone for substantial wrongdoing in the 2008 crisis.”
Several key market indicators are signaling the coming of a financial meltdown worse than that of 2008:
-- The Federal Reserve’s policy of near-zero interest rates are causing inflation of assets, suggesting the formation of another bubble.
-- Household debt is approaching $12 trillion, a number not seen since 2007.
-- Big banks are getting bigger, while community banks – thanks to the burdensome regulations remaining in a mostly-gutted Dodd-Frank – are disappearing.
“The U.S. government must prove once and for all that it does not reward bad behavior. Those on Capitol Hill must demonstrate that no one is above the law,” said West and Bowen. “If not, the American public can expect to see greater malpractice, leading to another, far worse financial crisis.”
The NCPA’s Financial Crisis Institute is working to determine the major causes of the 2008 financial crisis and identify what policies can and should be implemented to prevent a reoccurrence.
We Must Learn from the 2008 Crash or Repeat It…Soon: http://www.cnsnews.com/commentary/allen-west/we-must-learn-2008-crash-or-repeat-it-soon
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