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overtheedge
Member since May 2012
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Can We Fix What's Wrong With Banking? - Mish - Global Economic Analysis

You can't fix what is wrong with banking because you can't fix human nature.

Human nature demands that we eschew personal responsibility.

This means we need corporations, insurance and committees.

Avoid responsibility at all costs including the world-wide destruction of the economy.

Those few that practice personal responsibility might make it. BUT they are grossly outnumbered. Historically, might makes right because might writes the books. And those books are what bureaucrats read in school. Ergo, might goes after the low hanging fruit first. The few must either hide assets or defend them with force.

And the US Constitution requires that everyone over 18 gets the right to vote themselves assets from the communal kitty even though the person contributed nothing to the kitty. Kinda like a poker game in the rear of the tavern where every bum saunters by and grabs some money off the table to buy drinks for themselves and their buddies.

So no. Can't be done without a complete over-haul of the human condition. Yes kiddies, it is a conditioned response. Pavlovian conditioning at its finest.

Commented 4260 days ago

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Beginning of the headline :I was asked a few days ago by Zócalo Public Square, a not-for-profit daily Ideas Exchange, to contribute a brief comment to coincide with their upcoming event "Can We Fix What's Wrong With Banking?" I was specifically asked to address the question "should we have bailed out the banks?" Here is my response: No, we should not have bailed them out. That’s the easy question. Now that we have bailed them out, however, here’s the important question: "Will we fix what’s wrong with banking before the... Read More

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