I wonder if, in this scenario, Bush might run again in 2008
2008 is more likely to be JEB! as a proxy for his brother
OTOH how would a GOP President elected in 2008 handle the crisis?
If its someone more fiscally responsible like Jeb or Romney then they might pass some form of comprehensive legislation
Only Nixon can go to China.
And therefore, I like the idea of a Republican elected in 2008. He (or, maybe She?) can go further in regulating the big banks. He won’t get the knee-jerk opposition from the other party.
So, maybe a President Mitt Romney passes legislative with only 2/3’s of Republican votes in Congress, but also with 2/3’s of Democratic votes. And this could be effective, streamlined legislation. Not the gobbled-up, watered-down stuff we normally get.
For example . . .
25 Nov. 2016 —
One US Federal Reserve bank official, Neel Kashkari, wants his country's banks to keep much higher cash reserves, to reduce the chances of another major financial crisis.
www.bbc.com
‘Currently, US banks need to keep 6% of what are known as their risk-weighted assets, a formula that values their their loan book, in cash.
Under the so-called "Minneapolis Plan", Mr Kashkari wants banks to significantly increase this ratio to up to 38%.’
.
.
‘Chris Lowe of FTN Financial says it's not necessarily a bad idea, but
the key to success would be the plan for transition. “If it were done in one fell swoop it would have massive implications…” . ’
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Okay, so you do it gradually.
And maybe the end goal required is based on the size of the bank.
<— you see, maybe I’ll already made it too complicated
The point being, Increased Reserves is exactly the kind of clear and understandable legislation you might be able to pass— if you have a President who is able to “play against type.”