Since the crisis seems to have been at the bottom (except we are now in for an inflation ride!) and blame has already settled on bank”sters” and capitalism, I have found an ample metaphor for the whole business.
It is as if you would blame the drug-addicts that drugs make them ill and violent. But the special topping is that you then call for the drug dealers to actually make the situation better.
For those that haven’t yet guessed that drug-addicts are banks and drugs is cheap money and of course drug dealers are the government, well, there you go.
I think it is apt because banks really worked that way and while the bubble might have occurred with higher interest rates, cheap money amplifies the damage.
And now we called in government to deal with the mess. And if you aren’t an elitist blinded-by-the-light-of-government-and-idealism democrat or leftist, then you may well know (yes also the realist leftists know this) that government never crafts laws without lobbyists sitting along side. Thus every law that is being crafted is done so to protect the guys at Goldman Sachs or Bank of America and to limit market access for small banks.
What a wonderful world crony capitalism is and it only is like that because of those that seem to hate capitalism. Isn’t this ironic.. and sad.
