Sunday, March 10, 2013

Too Big To Fail, Too Complicated For The Average American To Understand

There was a well written piece by Eric Grover in the March 11, 2013 issue of Barron's that will escape the attention of most Americans.  But, even if this editorial were brought to their attention, would they understand it?

It's titled, "The Ruling Class; The Dodd-Frank law misses the primary causes of the financial crisis."  The piece says in essence that "... the banks that are too big to fail are getting bigger," and that (Dodd-Frank) ... makes the next financial crisis more likely, and that (this) puts a damper on economic growth."

Grover's arguments are sound.  But, who, with the the exception of business people, and economists, can understand his argument.  The irony is that the voter who doesn't get it, and probably never will, will suffer the consequences brought about by government policies that politicians encourage him to support.

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