On reflection, I’ve decided it isn’t the right approach after all. What we really need to do is rescue the 1%.
The FDIC has sued 16 of the largest banks in the world plus the British Bankers Association (BBA) alleging that they engaged in fraud and collusion to manipulate the London Inter-bank Offered Rate (LIBOR).
John Gapper, writing in the Financial Times, argues that Bitcoin enthusiasts need to grow up, and that Bitcoin itself needs to grow out of its obsessive adolescence.
In the Valley of the Blind, the apologist passes for the sentinel.
All this talk about the 99% versus the 1%? I say the easiest—and likely the most useful—thing to do is just forget the 1%. Write them off.
Hensarling posted his August 13, 2013 keynote address at the George W. Bush Presidential Center. His central argument is that “Washington promoted moral hazard by protecting Fannie Mae and Freddie Mac, which privatized profits and socialized losses.”
