Left versus Right as a Political shorthand is nonsense. The true Political spectrum is Libertarian versus Authoritarian
Friday, December 12, 2014
Big Banks are Walking Dead
The budget fight is a nail biter because of lobbying efforts to modify Dodd Frank. Who cares? Its a huge unwieldy act doomed to be regulated by the regulate es. The Dealbook section in the New York Times had Boutique Investment Banks Gain Prestige which is a favorable trend where the risk taking of private partnerships who use bank utility services to to advise and deal without the big bank structure. The 2008 financial crisis was the equivalent of Detroit manufacturing millions of defective automobiles and the catharsis caused by everyone wanting their money back. Big banks may want the freedom to sell profitable exotic instruments but what Corporate Financial Officer wants to buy them given the big bank history of self dealing and bonus entitlement?
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