Elder Statesmen Of Wall Street Join The Populist Movement - RE-REGULATE BANKS

The link to this article is in the title of the post. This differential between the elder statesmen and the current crew of brain-dead CEOs on Wall Street proves a point we brought up some years ago. That is, as Joseph Schumpeter noted seventy-odd years ago, the first order of business in getting through a crisis is to rid society of the leadership positions held by the dead wood who's faulty thinking caused the crisis in the first place.

We need to get rid of the likes of Bill Clinton, Clinton economic advisors aka idiots, George Bush and his economic idiots, all of the old dead wood in Congress (term limits would be great to permanently rid ourselves of these infestations of mental rot), all of the dead wood leading Wall Street firms, all of the dead wood lobbyists and all of the dead wood business leaders running mega firms.

When taxpayers were forced to bail out Wall Street, all of the senior management should have been fired or worse. We are well on our way to ridding ourselves of much of this dead wood and their asinine thinking. I wish it were possible to make this transition in a week to new ways of thinking and new leadership but ...........

Update: Btw, I find it interesting that one of the old timers quoted in here remarks that all trading should be banned, including client trading. This is a position we have taken on here. That all speculative activity should be banned. Lending only for banks - a horrific thought for the current crop of bozos who ran our economy into the ditch.