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And of course, Milton Friedman.

But can this really have changed the whole culture of banking?

"Remember the I35W bridge--who needs terrorists when there are Republicans"

by techno (reply@elegant-technology.com) on Mon Nov 5th, 2007 at 01:25:22 PM EST
[ Parent ]
Yep.

They were waiting in the wings for the opportunity.

Actually I think it was Nixon who started the process when the US defaulted on its debts in - I think it was - 1972.

The Sheikhs then provided a convenient short sharp shock to make theft and plunder more palatable, under the guise of 'common wisdom.'

The rest is history. (And the parts that aren't yet, soon will be.)

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Nov 5th, 2007 at 02:18:33 PM EST
[ Parent ]
As you said, the banking business was so tightly regulated that it was virtually impossible to go bankrupt. Take away that regulation, and preach that profits are the highest goal attainable not only in business, but in the overarching moral hierarchy überhaupt, and what are you left with?
by nanne (zwaerdenmaecker@gmail.com) on Mon Nov 5th, 2007 at 02:49:15 PM EST
[ Parent ]

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