Monday, February 23, 2009

They're Really Bad At What They're Supposed To Do

We can debate the various reasons why - poor regulation, messed up incentive structures, etc... - but the fact is that the Banksters fucked everything up. Geithner's gang seems to think preserving the banking system means preserving the Banksters' jobs. But right now we have a really horrible banking system that has proven itself incapable of fulfilling its role properly.