Via WiscoDave
Like most nations that crush dissent and operate with little transparency, Vietnam is highly corrupt.
For the past five years, one of the most theatrical topics of
superficially deep debate by both regulators and legislators has been a
simple one: how to end the abuse of power and relentless gambling with
zero fear of consequences by systemically important,
Too Big To Fail banks,
which led to the unprecedented 2008 spectacle of Goldman's Treasury
Secretary Hank Paulson demanding that Congress give him a blank check to
bail out anyone and anything (mostly his former employers) he deems
fit.
The theatricality is also grossly comic, because every other week
central bankers around the world release philosophical papers with
scnietific notation including that fancy Integral sign, musing over the
apparent unsolvability of this epic dilemma (just in case it is still
unclear, the central bankers work for the commercial bankers) all the
while the global megabanks get megabigger until, at one inevitable point
in the future, JPMorgan Merrill Fargogroup of America Sachs will be the
only bank left standing. And be in complete control of not only the
country, but courtesy of its $1+ quadrillion "galatically important"
balance sheet, the entire world.
What is funniest, of course, is that there is a gloriously simple
solution to all the world's TBTF problems, one that could be enacted in a
HFT millisecond by pulling the trigger, so to speak.
