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| Seems like 'bank regulation' is written to keep them afloat and the only banks feeling much of a change are smaller solvent banks. I think real deregulation where these guys get to crash is always the best policy. The folks that suggest that large bank failure would result in the US going to 3rd world status is a bit premature. To me it's like saying if ILFF fails no food will be grown when just the opposite is true (they did and not much changed). It's not like there isn't competition in the banking world just like farming. I really think the only thing holding some of these overly large bank corporations together is their lobbying for favorable government treatment in spite of their business decisions.
It's interesting because we, as farmers, have been the recipient of favorable government treatment for a long time. There has been some reduction in competition due to the 'pick the winners' bias in any program, but the door isn't completely closed to new entrants to farming. Maybe that's because there are still quite a few of us and perhaps if that number dwindles enough we become like the banks. In that event I can see government support being the only possible way forward since a sustainable business model will have been sacrificed for scale that gets the guaranteed government money (kind of eliminates weather risk). So, that's what it's all about here - getting someone else (the government) to assume your risk so you can do whatever you want without fear of failure or consequences.
We live in a world of propaganda that would have as all believe no one eats meat, 75% of us are gay, guns are all bad, rich people are bad, poor people are poor because of us and we need politicians to save us. None of it is true. I just cringe every time I hear the 'news' on the radio (even on Christian stations) wondering if what I hear is even remotely true and why it's delivered with opinion. | |
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Too Big To Fail
