Sunday, February 15, 2009

I wonder if they'll ever get it...

I know I've bitched before about the fact that free market capitalism works very well for every aspect of the economy except the money side (banks, brokerages, insurance...the entire financial sector), and on occasion I stumble across a similar sentiment, like that expressed by David Ignatius here.

There are many metaphors possible, but when it comes to the financial industry there are two real workable options, both regulatory in nature: make them smaller and competitive, or federalize the banking and probably insurance sides and let the rest fail on occasion as is their wont.

I'm pretty sure neither will be played out because it is in the financial interests of those in charge of this crap to do neither.

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