This campaign is well intentioned but naive. Without financial deregulation in most western countries during the eighties, we wouldn't have the current crisis, I'm sure they are right but ill give you a few other things we wouldn't have:
The internet
Google
Microsoft
Apple
Mobile phones
Laptops
The real possibility of a cure for cancer...soon
The fact that HIV is now rarely fatal in the west
The above are just a few examples of what would not have been possible if bright people with good ideas didn't have access to the funds that deregulation made possible.
I'm not defending the bankers, just pointing out that the financial world is increasingly complicated and interconnected place, allowing people who don't understand the system (almost everyone) to stick their noses into global finance is like asking a tree surgeon to perform open heart surgery...it might work...but I doubt it.
|