Friday, October 22, 2010

Banking isn't rocket science

As it is becoming increasingly clear, the banking business is awash in fraud.  Thousands of banksters should be going to jail for their crimes--crimes against ethics, crimes against economics, and now crimes against established property law.

But so far, we haven't thrown them in jail.  In fact, we have given them large piles of money and encouraged them to return to their lives of crime.  The question is why.  I actually do not have a clue because if I were in charge, those thousands of arrests would have already happened.  But I also have been alive and observant in this society for over 60 years so I do have some theories.

1) We have become accustomed to having the financial community call the shots on the economy.  We have been led to believe that they are the experts in the matters of money so they should be heeded.  We have been taught to believe that moneylending is this ultra-difficult task (else why are bankers paid so much--actually there are hundreds of jobs more difficult than lending.)  We have been led to believe that if we were to allow the control of moneylending to pass into the democratic control of mere mortals, chaos and anarchy would ensue.

2) We have a mean streak of Calvinism in USA.  The Calvinists teach us the rich are the ones chosen of God to lead our communities.  The poor are that way because of some occasion of sin.  Bankers are rich.  Therefore an attack on bankers is an attack on God's design for the social order.

Actually I have many more theories but these are the big two.

We lead off with a reminder of just how corrupt banking has become.
INSIDE JOB: New Documentary Exposes How 'Banksters' Continue To Steal Our Money

And then we have this sweet little piece showing how the good people of North Dakota prove every day that they are perfectly capable of running a fine bank democratically.

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