I find it reprehensible that the C.E.O’s such as Lloyd Blankfein and Jamie Dimon have such easy access to the power center of Washington D.C despite the fact that they have repeatedly broken laws, ergo the fines and settlements, broke the global economy and are, for all intents and purposes, not very good at their jobs. Glass-Steagal, as Bernie Sanders and Elizabeth Warren will tell you, needs to be reinstated and as Bernie Sanders explained it, the banks need to be broken up and reverted back to their original sizes. I am surprised that for the capitalist devotees in this country, they allow themselves to be rolled by corporations who deny the “Free Market” its necessary element of competition. As Bernie Sanders indicated, Teddy Roosevelt despised big corporate monopolies, they gamed the system and exploited their unfair advantage in size and power over the people. We should have a clear delineation between commercial banking and savings banking, we also need community banks as well as credit unions. Moreover we have to stop worshipping these bank C.E.O’s as if they are geniuses, they aren’t, they may be intelligent, clever and charming, but they are deceitful, manipulative and exploitative, nothing to worship in my opinion. I can give you a clear example of someone to admire, Jonas Salk, instead of going the way of acquiring millions for a patent to his polio vaccine, he gave it as a gift to the world, that is worthy of deep admiration; not these wannabe rockstars of the financial world. Banking needs to become boring once again, we don’t need complicated financial instruments to produce money and we should not entertain monetizing everything under the world. We need to evolve somehow towards a system that puts a premium on people and not profits and the dangerous perception that everything is a commodity.
read the article: