Enormous, unchecked business/finance is as bad for us as enormous, unchecked central government. Let’s quit the habit. “From the left, the emphasis has been on the megabanks’ abuse of power and the great rip-off of the middle class. From the right, the stress is on the hazards of crony capitalism, owing to the massive implicit government subsidies that these banks receive. But both left and right agree on the fundamental asymmetry that the recent ‘Citigroup Amendment’ implies: Bankers get rich whether they win or lose, because the US taxpayer foots the bill when their risky bets fail.”
Posted on: Sun, 28 Dec 2014 01:12:38 +0000
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