The thought that somehow, bankers and government experts are so wise that they are the only ones who can fix the problems... is an illusion.
Hmmm... matter of semantics I guess... Anyway, my thinking, based on the people I know... and even most of the people I read... seems to say that while they (the people) hate what is going on, they tend to rant about injustice, but rarely take the time to really understand the problem. In this case, almost everyone admits to not understanding things like derivative swaps, and reinsurance, and why mortgages seem to be impossible to unwind.
Actually, they don't have to understand, but that's the real reason why the anger is free floating. I see it as a crime of rape, where the identity of the perpetrator can't be proved, because no one knows how to read the DNA sample.
Isn't the argument for continuing to pay for Bank Bonuses, based on the thought that the only people who can unravel the mess, are the ones who created it?
I believe that it's only an illusion that the money instruments are so sliced and diced that the identity is impossible to determine. When the Federal Government finally okays the guarantee subsidy for the banks and brokers to buy and sell, I predict that there will be a headlong rush to pick the cream of the "opaque" securities, that may make the entire "bubble" look like a raindrop. Just watch, and see where the money goes, and remember that it was just natural result of dumbing down the public.
I don't expect all of my friends to try to understand the problem, but with just a moderate amount of work, I believe I understand the economic basics that put us where we are today.. I do NOT understand why virtually all of our media personalities... and even worse, our politicians... seem to be so totally out of contact with the base of our problems.
Not a big deal I suppose, but when no one sees the naked emperor, I have to wonder why.
