“Journalism is one of the devices whereby industrial autocracy keeps its control over political democracy; it is the day-by-day, between-elections propaganda, whereby the minds of the people are kept in a state of acquiescence, so that when the crisis of an election comes, they go to the polls and cast their ballots for either one of the two candidates of their exploiters.”
Upton Sinclair, The Brass Check
Rather than present someone else’s analysis, here is a simple checklist for you to consider, and a few simple questions.
Run down the performance over the last ten years or so of the Too Big To Fail Banks and assess them for yourself.
Is further deregulation the answer? Should we place even more power in the hands of the Banks themselves and then trust them to be good, or give that power to their own industry associations and instruments, including those attached to the revolving door?
Is the Federal Reserve an unbiased and objective regulator fully transparent and answerable to the people before all others?
Does the libertarian idealism of assuming that people are all naturally good and rational, weighing long term benefits for all against personal short term gains, serve the public interest? Is it realistic? Is it always even real?
This post was published at Jesses Crossroads Cafe on 20 APRIL 2015.
Recent Comments