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Like with most of the big problems in the world, the folks in charge don’t really want to solve the problem. Just re-instituting Glass Steagall would curb a major part of the reckless banking that has become endemic. This is sort of like the unspoken elephant in the room. Jailing a few folks from the executive suites would do it too. There are many laws on the books. They just aren’t enforced because TPTB don’t really want to reign in the source of major campaign donations.

Similar situations exist with out of control health care and education costs. There are simple solutions available, but they would rock the boat of powerful interests.

As an aside last night I spoke with the guy I know who sits on the Board of one of the Fed branches (not NY). He said at their last meeting it was discussed that there are things that bear monitoring but that the fundamentals are all strong ……economy growing, unemployment dropping etc etc. I didn’t bother challenging him as it wouldn’t do any good. Waste of my time and his. Afterwards it occurred to me that maybe folks like him refuse to see the world for what it is because they are totally dependent upon that rainbows and unicorns world to keep going in perpetuity. He has no useful skills outside of banking and law and would quickly become a casualty if the lights go out.