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Alyosha12/09/2016 1:37:50 am PST

re: #156 wheat-dogg

Indeed, there were strict prohibitions against Christians lending money (neither a lender nor a borrower be), but Jews were exempt from such canon and secular laws. Then as now, many people love to borrow money to get things they want, but they’re not always keen on paying the loan back. See Trump, exhibits A-Z. So, rulers could just expel the bankers and lenders — problem solved!

I mean there are obvious problems that arise when unregulated banks and brokers trade in the exotic derivatives that were in part responsible for the GFC, and so the inclination has been to go for the banks themselves.
I admit to being one of those who saw the bankers themselves as morally corrupt and worthy of expulsion or the mines. Since the media tends to focus more on the personalities involved in such trading, the market context in which they were allowed to be so reckless tends to be overlooked.

I mean, everyone knows Madoff and Ponzi. What seems to be more difficult to grasp is the culture, institution and license. We still tend to scapegoat the individuals, while ignoring the systemic failures.
It’s what’s likely to be America’s downfall in the years ahead.
I mean, if ‘greed is good’ is the operating thesis (and Trump personifies this mentality) why not roll back the protections offered by Dodd-Frank?

When a regulation works well, noone really notices. That’s modern capitalism’s greatest weakness.

Except when the economy does eventually crash again, the wealthy are not only not affected; their grip on the reins is surer than ever.

That’s the CONSPIRACY.