We need more bank regulations

I feel like I'm a talking point machine, regularly linking to Paul Krugman's columns, but once again he is right on the money, so to speak.

The congress is considering stiffening financial regulations. Republicans say that's bad for some reason. However, as Krugman observes, "between the 1930s and the 1980s, there weren’t any really big financial bailouts, because strong regulation kept most banks out of trouble. It was only with Reagan-era deregulation that big bank disasters re-emerged."

Arguing that banks should be free to fail is irresponsible because the ripples go through the whole economy. Anyone who was laid off, or knows someone who was laid off, or got their pay cut or was furloughed understands this. Banks aren't the only companies hurting right now, even though banks were the ones who screwed up. They have too much power over our economy, and they need checks and balances like the ones that worked very well for 50 years.

Making banking boring and safe again. Tell your congressperson to pass strong banking regulation.