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According to rules applied to other sectors, yes indeed.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Oct 1st, 2008 at 02:29:13 AM EST
[ Parent ]
Then we need to start questioning the Commission when they apply the rules to other sectors.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 03:03:04 AM EST
[ Parent ]
Banks aren't a cosmetic company.

At this point (with h/t to ChrisCook) they are the lynch pin of an economy.  Pull it and watch the whole edifice collapse.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Wed Oct 1st, 2008 at 03:06:30 AM EST
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But then they have no business being run for the profit of their management.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 03:09:54 AM EST
[ Parent ]
That's why there used to be Regulations and Controls on banks so we wouldn't get into this mess, again (as in 1888, 189something, 1905, and 1929.)

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Wed Oct 1st, 2008 at 03:28:52 AM EST
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ATinNM: At this point (with h/t to ChrisCook) they are the lynch pin of an economy.  Pull it and watch the whole edifice collapse.

"Finance is so central and peculiar, so essential, and yet it carries a death threat for the economy," said Jagdish Bhagwati, a professor of economics at Columbia. "What we've seen, once again, is that finance is a very powerful instrument, but one that needs to be intensively watched."


Truth unfolds in time through a communal process.
by marco on Wed Oct 1st, 2008 at 03:30:02 AM EST
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