Comments on: U.S. needs to reset lopsided mortgage mish-mash Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 By: 007XXX Tue, 17 Aug 2010 15:06:21 +0000 I guess that American banking system should have been allowed to fail…as we say in India, if it (generally society in India) is burning then let a new and better one arise from the ashes. Yes there would have been unforeseen human suffering worldwide (more so in countries like India) but that would have made us all learn some good lessons.

Because since now government has bailed out so this gives banks even more room for misdoings thinking that government is there to save us because we have galloped general public’s money. Instead there should be a simple law that if any firm(specially banking) going bankrupt, then for such firms all top management(all the directors, CEO, CFO, all the fool CXXs) are directly responsible and will be put on scrutiny immediately. Second I think America needs to have something like CRR as we have in India wherein some part of cash is such that which banks cannot lend and through CRR the central bank can control the money flow in system.