Sunday, May 27, 2012
All kidding aside:
Look, everybody who understands this mess at all understands there are TWO THINGS that need to be done, first and foremost. And these two things will go a very long way to setting us back on the right path:
1) Re-institute Glass Steagall, or the equivalent so the banks can not operate as Hedge Funds with public money.
2) Run ALL DERIVATIVES through a transparent exchange, so that they can by tracked and accounted for and regulated.
Those 2 things will not solve all our problems. But without them we are lost. No exaggeration.
Everybody understands this. Nobody is doing anything about it.