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The utility bit is useful (payments systems, lending for basic economic activity and productive investment, life & damage insurance, traditional mortgages) - and it's actually reasonably easy to regulate. It's just that we've had 30 years of ideology that's against regulation, even of the borign bits, and that's been keen to blur the line between the utility bit and the more speculative bits of the business.

And then you have the push to make pensions market-based, and to have all human activity evaluated (valued) by market analysts.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Mar 1st, 2009 at 07:41:05 AM EST
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There is kind of the idea, that these sectors are actually the ones who are behind or actually create the wealth. When in fact, i believe, they are mostly pretty useless. Very much kind of "parasites". I cannot see how regulation here could do any harm to the real economy. Investment banking, i believe, is a good idea, but they should be kept far away from real estate, mortgages etc. These sectors should be heavily controlled, even government business.
by kjr63 on Sun Mar 1st, 2009 at 10:39:28 AM EST
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