Quote:
Originally Posted by taxwonk
I blame bankers. And insurance companies. And Pharma. And I'm mostly correct.
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Pharma's got it's problems, but I don't think it has much to do with un- and under- employment. It doesn't have much to do with employment, either, in the grand scheme of things. It's just not a huge employer.
The big banks and the i-banks have a special place in hell. I'm not sure there is a way to effectively regulate an industry based on purified greed. But one of the major failures of the left is to fail to provide any alternative for finance. The Berniacs have zero vision, Liz Warren is looking to regulate what is there, Barney Frank tried pretty damn hard with some of his public financing vehicles but, unfortunately, seems to have failed and done little more than carved out a niche.
I still think the solution is most likely a mix of smaller banks, specialized banks, and credit unions/coops, but those generally don't have a way of financing bigger deals. The last Mass. treasurer, Steve Grossman, former head of the DNC, tried to use state deposits and financing as a way of leveraging up those banks' capacity and getting them to work together in group deals more, but that approach needs a lot more work to get traction.
But the ibankers are by nature evil.
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