Thought of the Day

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A functioning financial system is an essential utility of modern society, like electricity, police, hospitals, phones, roads, and Internet. Therefore, we should expect the public/private balance of control over these institutions to be tilted more towards the public than it hitherto has been.

Comments

Bruce said…
This relies on the assumption that public control works out better.
9:30 AM, March 31, 2009
bill in minneapolis said…
Since the Depression, banks and insurance companies have always been highly regulated. We just lost sight of this concept with all the Republican rhetoric about 'government is the problem.'

Yes, if you let government become political and unchecked it will be the problem. The solution is not to get rid of the government but to make it responsive.
7:33 PM, March 31, 2009
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