Time To Start Over

The Big Picture asks a good question: “Can the banking industry make it 24 hours without a new scandal?

None of this should move the markets in the short-term on its own, but collectively it paints the financial industry as an out of control criminal organization with either incompetent or complicit regulators.

Quite.

The whole structure and culture of the financial services industry needs a complete overhaul. As does government, of course, which is the root of the problem. So long as the Party is in charge, though, things will continue to get worse.

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