| |
|
| |
Sep 21, 2009 10:55 pm |
|
re: re: Reforming the banking system? |
abbeboulah
| |
I am somewhat mystified -- should I be flattered? -- that my slim four-sentence lead-in to my modest suggestions could be characterized as an 'analysis' of the banking industry -- and 'opaque and meandering', to boot -- oh my! Even more, that the suggestions I understood as ways in which the industry itself might redeem its tarnished reputation with commitments that people might accept and recognize as honest efforts to avoid recurrence of past errors could be labeled 'regulations'. I thought I had made it very clear that I suspect regulations won't do the trick. We may have to clear up just what we mean by those terms. The industry in the strong, vigorous 'free' (quadruple question marks here, but that's another issue) market has proven itself vigorous enough to eviscerate or sidestep what government regulations were in place, amply demonstrating both that it can't be left to operate 'freely' by itself according to past guidelines, habits and mantras, and that imposed regulations by 'big bad government' too often won't have much teeth, especially if the regulators can be subtly or not so subtly 'cut in' on the free market machinations. Instead of merely lamenting and forecasting more calamities -- thereby inadvertently and sadly insinuating that the people with this vigorous free market system can't design themselves a market system that does not blow itself up every once in a while -- nor a government 'of the people etc...' that can guide this system properly, -- how about some innovative ideas for a change? On the Innovation Network... Private Reply to abbeboulah (new win) |
|
| |
|