Wednesday, September 17, 2008

Simple Justice: Banking and Brokerage Got its Wish

Deregulation! Free markets! Debt-consumption powers the economy! Checks and balances and true value are passé!

Say hello to "Busted Big-Time." It's been shown time and again--this time with careful scrutiny--that central financial dealings such as stocks, mortgages, insurance and banking, need regulation. Fancy computer models that basically amount to debt spun several ways, creating fees and charges for middlemen and leaving more debt in its wake, are totally stupid.

No comments: