There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.
Sentiment: NEGATIVE
The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.
Governments of all stripes want to deliver growth and rebalance their economies now that they have learned the hard way that, left to their own devices, markets pick expensive banking losers.
Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
If a bank's too big so that it can't fail without hurting our economy, well then, it's too big.
We need banks and financiers and entrepreneurs to take risks because that's how economies grow over time.
In capital we trust. Capital is our savior, our holy grail, our fountain of youth, or at least health, for banks.
If a financial institution is too big to fail, it is too big to exist.
The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.
There is nothing left now for us but to get ever deeper and deeper into debt to the banking system in order to provide the increasing amounts of money the nation requires for its expansion and growth.