America's bankers are oligarchs

America's bankers are oligarchs – Boing Boing

There’s a term to describe the cozy relationship between the leaders of the American financial system and the regulators that lead to the current economic predicament- an oligarchy.  That’s the opinion of former chief economist of the IMF in the Atlantic.

 

There’s something reassuring about knowing that the source of the global economic crisis is not a completely brand new or unknown idea.  Once we know the type of problem we’re dealing with, there’s a higher chance of being able to resolve the problem.