Monday, August 09, 2010

Bankster Madness


This stems completely from a worldview that says, essentially, protect the banks, and let nature take its course. . . .

A well functioning financial intermediary system is important to a modern economy, but we've had a wee bit of proof over the last couple of years that our financial intermediary system is neither healthy nor much of a financial intermediary system. It's a giant casino industry with a side gig in banking, and that banking side gig has meant the government will always guarantee the house bets. Not a bad setup, for the banksters, but not really something we should encourage or think is important to preserve.