Grab a banker!

Slack analysis of libertine wealth is a serious error of our era. There’s too few challenging a banker’s feed trough and it’s hurt us. We’ll be feelin’ the pain on every continent as the agriculture of these financiers is once again shown to be both loose and unverified but packaged and traded nevertheless.

Greed can turn a blue ribbon bank into a casino almost overnight. Public regulators have known this for centuries but we fail to require our governments to adequately police the rich and their institutions. Scandals here are not about prostitutes and favors, but entire populations that are merely used to factor numbers as if farmers fertilizing grain.

Ever so willing to fund the enforcement of rules until our communities are saturated with civic armies in the name of jobs and pork barrel votes, our legislators are too weak hearted when confronting the gold and glitz of their wealthy patrons.

And our media has been bought by those media must expose. In most cases, we know very, very little about the very, very rich even though this handful own the majority of the earth! This silly oversight, and it is a silly oversight, seeds a ‘society of deference’ until it’s fashionable to wink or complain but remain ignorant and powerless.

As if enlisted in a military culture, we complain of rations and snap to salute. Yes, we should kindle a legislative and media fire while crony politics is rudely embarrassing us again. We’re failing to corral the money barons.

Abusing millions of mortgages and credit lines in their latest sweep across our cities is only the most recent dis-use of our economy, as if our citizens are mere cattle or crops to tweak and measure until fat numbers are branded, packaged and shipped away as leverage and discounts.

I enjoyed this news article linked below about how we’ve let unbridaled greed trounce us once more. I think the advice in this article to re-regulate investors and banks, [perhaps as far back as the reins of the 1970s], might be the first task we insist our government carry out before it mails another pittance to stimulate sales at the mall.

In the journal International Economics and Economic Policy, Paul Welfens sees inadequate protection of deposits and poor banking supervision as the root of the problem.

Despite cuts in interest rates, the problems on the US real estate and banking markets have not yet been solved and form the epicenter of a financial crisis in the OECD countries.

…inadequate protection of deposits and poor banking supervision in Britain – and in other OECD countries – as the root of the problem.

…the banks’ behavior amounts to a casino mentality.

The crisis will continue or reoccur if banking supervision systems are not improved.

…the US system is unstable and causing serious global instabilities.

…the large US banks lost all sense of proportion in the 1990s

…the leading finance centers are responsible for the shocking international crisis