The large financial groups need to be down-sized so they remember their place in the economy. They are a sideshow, not the center ring.
]]>Bryan – I couldn’t agree more. Doesn’t Wall Street realize, stock markets aside, that many Western democracies don’t even have what we would consider a banking industry, and a thriving, competitive economy can develop under a government-managed banking system? What part of “you’re dispensable; autos, trucks etc. are essential” do they not understand? I wonder occasionally if Obama would have done better not to appoint so many Wall Street exes (competency aside) to manage the recovery, but as I can’t imagine Obama not doing that, I suppose it’s irrelevant. Having no choice, we may as well try it for the hellevant, as Ogden Nash rhymed at least once.
]]>They should have treated just like the car companies.
BTW, the car companies is another reason there isn’t any justification for oil price increases. Cars aren’t selling, and future cars will use less fuel. The oil crowd went too far, and people are changing the way they think about transportation.
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