The Growing Monopoly Of The Banking Industry

where20to20defendIn the News (from Project Syndicate):America’s Socialism for the Rich” With all the talk of “green shoots” of economic recovery, America’s banks are pushing back on efforts to regulate them. The old system worked well for the bankers (if not for their shareholders), so why should they embrace change? Indeed, the efforts to rescue them devoted so little thought to the kind of post-crisis financial system we want that we will end up with a banking system that is less competitive, with the large banks that were too big to fail even larger.

My Comment: The system will become even worse because it has to serve ever-growing egoism. Banks will become larger, their monopoly will exploit the ordinary client and the government will not be able to dictate its conditions to them. As a result, conflicts will be on the rise!

Related Material: Post: Analysis Of The Crisis Post: The Game Of Life Has New Rules Post: The World’s Egoism Can Be Learned From America
Baal HaSulam Article: “Building the Future Society”

Discussion | Share Feedback | Ask a question Comments RSS Feed