I’m not as liberal as could be assumed from a lot of what I write here. For example, I think the deadly embrace between Corporate America and Organized Labor contributed to the inflation/unemployment spiral of the 1970’s. It also gave us some of the worst cars ever made.
A liberal theme I have expressed often is my distrust of Wall Street. The Federal Reserve and Treasury have served the needs of investment banks very well, but the big firms aren’t satisfied with borrowing money for free. They want unregulated markets, and the only rules of the game they will follow are the ones they write for themselves.
We are still living with the repercussions of the market collapse in 2008, and there is nothing to prevent it from happening again. In fact, it almost did happen again, as explained in a new documentary, Gaming Wall Street.
The documentary reminded me of a book I read that further explains how the system is rigged, and that markets are free only in the “anything goes” sense. Flash Boys, by Michael Lewis.