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comment by ProfessorOat
ProfessorOat  ·  4805 days ago  ·  link  ·    ·  parent  ·  post: BBC Speechless As Trader Tells Truth
I think a significant portion of the problem comes from a period where the technology greatly outpaced the regulations. They managed to scoop up an unreasonable amount of political and economic power in a relatively short amount of time (~35 years) to ensure that increased regulation and taxes would be met with stiff opposition.




mk  ·  4805 days ago  ·  link  ·  
I agree to an extent. However, the repeal of the Glass Steagall Act in the US did a lot to bring more money into these new market mechanisms. If we didn't have banks trading, a lack of adaptation of regulations to these new technologies might not have had such consequences. It's as if they got their cake and could eat it too.

The bit about Goldman Sachs ruling the world is true to the extent that the control the flow of cash. We gave that to them.