John Mauldin - What Next?: Attitudes About the Economic Future 4/5

The transcript discusses the relevance of the Port Huron Statement in today's context, highlighting the economic challenges faced by different countries. It emphasizes the need for banking reform, particularly the separation of commercial banking from trading, and the importance of increasing the capital base for larger banks. The discussion also covers the concept of moral hazard, lessons from the TARP program, and the need for better handling of financial crises to protect taxpayers.

What is the speaker's perspective on the economic future of the US compared to Greece?

• The US has a better chance of overcoming economic challenges than Greece.

• Greece is more optimistic about its economic future than the US.

• The US is in a worse position than Greece.

• Both the US and Greece have equal economic prospects.

What historical financial legislation does the speaker believe should be reinstated?

• The Dodd-Frank Act

• The Gramm-Leach-Bliley Act

• The Glass-Steagall Act

• The Sarbanes-Oxley Act

According to the speaker, what should be increased for larger banks?

• Their number of branches

• Their customer base

• Their interest rates

• Their capital base

What does the speaker suggest should have been done to shareholders during the TARP bailout?

• They should have been ignored.

• They should have been given more shares.

• They should have been completely wiped out.

• They should have been rewarded.

What is the speaker's view on the future handling of financial crises?

• Financial institutions should face the consequences of their risks.

• Taxpayers should bear the full cost of bailouts.

• Crises should be ignored until they resolve themselves.

• Financial institutions should be bailed out without consequences.