Saturday, March 28, 2009

The Quiet Coup

Here is a juicy morsel from "The Quiet Coup", a chilling indictment of our dysfunctional financial system and the lame attempts to fix it.

"To ensure systematic bank breakup, and to prevent the eventual reemergence of dangerous behemoths, we also need to overhaul our antitrust legislation. Laws put in place more than 100 years ago to combat industrial monopolies were not designed to address the problem we now face. The problem in the financial sector today is not that a given firm might have enough market share to influence prices; it is that one firm or a small set of interconnected firms, by failing, can bring down the economy."

The link is in Banzai7 Whats Hot.

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