Here is a video well worth watching.
The Future of Financials - Meredith Whitney
Meredith, in a polite and somewhat understated way, makes some excellent points as an independent analyst, but probably of necessity treads lightly around some serious issues and deeper economic problems.
The real economy must pay a significant 'tax' to support the financial sector as it is now, and an incredibly large tax to restore it to its former excesses. Don't forget this, especially when the government tries to argue that there is no money for human services, and health, and basic infrastructure.
It is a matter of our priorities. We can choose to pay that tax, and let our children pay it, or we can try to restrain the banks again and bring the economy back into balance. A healthy economy requires a finacial sector that functions as a capital accumulation and allocation system with price discovery in an open, honest and transparent system of transactions, with the minimum 'friction' of overhead and corruption.
We will have no sustained recovery overall until we move much further towards a balanced system as set forth in our Constitution, and establish rational, peaceful, and equitable policies for our nation.
So we must roll up our sleeves, let go of our fears, gather ourselves together, and move forward.
