11–20 of 41 posts
This is the same whether it is mortgage backed securities or treasuries too. I would consider this faux controversy because exactly what kind of person would be a better steward of these decisions. The "revolving door" is funny to see how ridiculous it can get, but really who of the citizenry would be better prepared to steward these organizations? What exactly would the pedigree of that person look like? The Fed was…
Let's invert your argument on it's head:
- No one of the citizenry exists to play this role. Why?
- There is nothing stopping anyone who has regulated the system from switching sides to the thing they used to regulate
- Therefore, anyone qualified enough will pass through the revolving door and systematically brain-drain the regulatory apparatus rendering it impotent
- Therefore, this part of capitalism is able to seamlessly absorb and neutralize any resistance or regulation
- Therefore, there is nothing stopping it from absorbing all power and instituting a one party state
Don't call pointing out the corruptibility of this system "faux controversy."
This reads like something that normally would be written about an underdeveloped country, which, lacking established institutions and rule of law, is run by a kleptocracy for the kleptocracy. Yet we're talking about the United States. It's embarrassing for the country on so many levels. Unbelievable.
I think that people who are not well traveled are not even aware of this slide, but we have been moving towards becoming a highly stratified developing nation for 20 years now. The armored car is just one striking example, but there are dozens more I can think of off the top of my head.
This is the same whether it is mortgage backed securities or treasuries too. I would consider this faux controversy because exactly what kind of person would be a better steward of these decisions. The "revolving door" is funny to see how ridiculous it can get, but really who of the citizenry would be better prepared to steward these organizations? What exactly would the pedigree of that person look like? The Fed was…
I should probably read it again, it might be even more insightful when viewed through the lens of 2020.
It's just a coincidence that Muzinich is Jewish, as always.
This reads like something that normally would be written about an underdeveloped country, which, lacking established institutions and rule of law, is run by a kleptocracy for the kleptocracy. Yet we're talking about the United States. It's embarrassing for the country on so many levels. Unbelievable.
Talks about draining the swamp, proceeds to swamp the swamp with more swampy swamp-dwellers.
This reads like something that normally would be written about an underdeveloped country, which, lacking established institutions and rule of law, is run by a kleptocracy for the kleptocracy. Yet we're talking about the United States. It's embarrassing for the country on so many levels. Unbelievable.
do you think there are honest and fair government bailouts?