"The result is fewer Bill Gates’s (real job producers) and more Gordon Gekkos (company destroyers). The wealth gap grows as Wall Street’s incomes explode, Wall Street deregulates and the result is a weak middle class, rising inflation (largely thanks to the wealth disparity), a debt bubble that results from the middle class trying to sustain their standard of living (“keeping up with the Jones’s!), and ultimately a crash that turns what should have been a garden style recession into a near depression as Wall Street takes advantage of the zero collateral laws to leverage themselves up to the hilt in their never ending search for profit maximization and ultimately even greater pay."
Now we all suffer because of this cannibalization of capitalism.
One of my favorite sites for financial education. I'd have to say I have learned more about our monetary system through this blog than any other source. Cullen does an outstanding job!