Thursday, October 15, 2009

Why Haven't We Seen Any Financial Reform? Maybe Because The Government Decision Makers Are All Former Bankers With An Allegiance To A Failed Ideology

There's surely nothing wrong with working for a bank or Wall Street. But, over the last few decades Wall Street has more and more become a leech on society. Draining capital rather than supporting the creation of it. So, now when we need government to step up and restore the role of our financial system, instead absolutely nothing has changed. Why? Because the vast majority of people working on Wall Street truly have no clue what their role in society is other than to line their own pockets with money. And that in itself has a self-fulfilling prophecy by attracting people who often have no other goals. So, when these people are hired into the Treasury what would we expect to see? Support of the system which served their personal desires all too well.

Why not hire a Jesuit priest to or a Buddhist monk to run Treasury? Seriously, I would much rather have a kindergarten teacher running Treasury. Why? Because I know anyone who is a kindergarten teacher is almost assuredly not driven by greed and would most certainly have some virtuous qualities. Not to say Wall Street and virtue are mutually exclusive. But Wall Street executives are beholden to a failed system and I honestly don't believe the vast majority have any conscious realization that our system needs to be transformed. There are enough public servants in Treasury to assist anyone in making reasonably appropriate decisions if heads of Treasury departments were willing to listen to them. Instead our government policy makers continue to perpetuate an elitist class which is self-serving by handing jobs to friends and associates who are qualified. Wink, wink.

Link here.
posted by TimingLogic at 9:20 AM