To a hammer, every problem looks like a nail. It’s so true.
I’d really like to talk to Bill Black, who is kind of prominent in the economics field and is also a lawyer. But alas, he’s that other kind of lawyer – a prosecutor. He’s looking for someone to prosecute, which is what he did in the 1980’s S&L crisis, and he laments that we don’t have a big prosecution fest going on right now.
It never seems to occur to him that all that prosecuting he did in the 1980’s and 90’s…..did little or nothing to stem the tide of finance “industry” corruption. Indeed we have in the time since simply lurched from one “crisis” to the next with less and less breathing room in between, even as the severity of the corruption has deepened. Putting people in prison has solved nothing.