>Yes, but that begs the question. Since there is no chance
>whatsoever that oversight of financial capital will be tightened in
>the current political climate, why recreate the seamless web of
>institutionalized chicanery that existed in the 1920s?
Look, I think it's time that folks on the American left, such as it is, rethought their relationship to the inherited wisdom of populism, one of whose sacred tenets is that a fragmented financial system is a beautiful thing. This is supposed to encourage dispersion of ownership and power. Has it? If so, why is the U.S. the most polarized society in the First World, with a long history of financial crises? Why is it that most social democratic countries have more concentrated financial systems than ours? Why is it that the EU, as part of its war on the welfare state, is moving towards a more American style financial system?
Doug