BenevolentM
Posts: 3394
Joined: 11/15/2006
Status: offline
|
quote:
ORIGINAL: joether
Capitalism by itself has one huge problem: no mechanism to control greed.
They didn't vet the math all that well as in lock down all of the assumptions that were being made. Money is not about truth. It is a numbers game. What is statistically true is not guaranteed to always be true, yet statistical truth is King. Greed accelerated the discovery of the flaw. There was a fatal flaw in their reasoning. The fatal flaw was they had not yet solved all the important problems in economics. They knew less than they thought. It was more hubris than greed.
Dodd-Frank makes some attempt to address the lack of transparency problem through law, but law is not an especially good way to go about it. Glass-Steagall had an elegant solution. Is there anything elegant about Dodd-Frank? Dodd-Frank is attempting to solve the lack of transparency problem through rape. Once violated how will the banks respond? Instead of becoming more sane they may respond like a rape victim, submissive to the rapist, but not submissive to others. Perhaps this is what happened.
Though we may be inclined to cheer on as the banks get raped, what does it say about us? Shall our conclusion be that since it is a gang rape the victim will be equally submissive to all and so what does it matter? The problem with such reasoning is that it is not a gang rape. It is the government verses the banks. We the people get to be the long suffering husband.
|
RE: Dodd-Frank - 
Profile
New Messages
No New Messages
Hot Topic w/ New Messages
Hot Topic w/o New Messages
Locked w/ New Messages
Locked w/o New Messages
Post New Thread