Whatever Happened With the Anti-Trust Laws?

The real estate collapse of 2008 is fresh enough in our minds to understand and remember the impact it had on our lives.

Over the past decade I've made a point to research and understand at a more detailed level the causes which created that situation. Most of the public has no, to very little, understanding of just how far back events go which contributed to it. Sure, they may have seen the movie "The Big Short" which touches on one of the many facets in the vast web that were part of an eventual trigger point.

In the aftermath of the months which began as Bush's administration came to an end, and Obama's came into power, Congress engaged in creating new laws known as the Dodd-Frank bill which was easily passed in a Democrat controlled Congress in the first two years of Obama's administration.

The media claimed in their reports that it was designed to rectify many of the banking abuses which partially contributed to the circumstances which led up to that devistating point.

However, today, one of our former president's close advisors has released an opinion article which makes claims contrary to what most of us believe that bill supposedly corrected banking practices which contributed to that collapse. 

According to Dick Morris it didn't do any such thing. In fact, it did the opposite. He asserts, and from what I understand from my research is correct, it allowed for the larger mega-banks to absorb the smaller local community banks.

I urge my readers to read his opinion article here to understand more clearly why he makes his assertion, as several others are doing, and why it seems obvious that instead the Anti-Trust laws of just over a hundred years ago are being ignored today. I believe, it is because our elected "leaders" are beholden to, and corrupted by, the very corporate control which keeps them in office; donations to their campaigns for re-election.

The more important issue, in my opinion is, given the reports I've studied - here's one, for example - and the indicators from a variety of financial experts, how much time do we have under the current more fragile economic circumstances we witness going on now before another collapse hits? Some are claiming the next economic collapse could be much worse. After all, we are currently witnessing many, if not more, of the very same circumstances in the housing market which were happening back in 2003 to 2007.