THE reason why all the banks and financial institutions have gone on a wild rampage of free-credit and gorging on billions of dollars in tier-three debt is precisely because our government leaders allowed them to do it. Congress abdicated its authority and responsibility for oversight.
Our senators and congressional reps repeatedly signed the legislation that the financials wrote (via their lobbyists) and THAT, plus the unbridled creation of billions in funny-money by the Fed have put us into this situation. We complain about the government because THAT's where the blame lies. A free market with simple rule of law would quickly bring alleged perpetrators to justice via lawsuit and the courts would determine if anyone was harmed. Don't blame free markets for our current predicament, for heaven's sake!
Truly free markets haven't existed for a long time, and if they did, things would certainly "work better."
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