FELIX MARTIN

Why respect the rules of the system … if the system consistently generates crises?

Global banking’s current structure generates an unjust distribution of risks, where losses are socialized.

Under the old social regime, social position had been absolute: born a peasant, died a peasant; born a chieftain, died a chieftain. In the new world, everything was relative. The only real measure of a man’s worth was money — and the accumulation of money has no intrinsic limits.

… attempting to supervise the financial sector is a fool’s errand

… attempting to supervise the financial sector is a fool’s errand

Under the old social regime, social position had been absolute: born a peasant, died a peasant; born a chieftain, died a chieftain. In the new world, everything was relative. The only real measure of a man’s worth was money — and the accumulation of money has no intrinsic limits.

Why respect the rules of the system … if the system consistently generates crises?

Global banking’s current structure generates an unjust distribution of risks, where losses are socialized.