In response to:

Can We Fix What's Wrong With Banking?

justsomeguy151 Wrote: Mar 17, 2013 9:44 AM
Don't forget Clinton repealing Glass-Steagall. NO, govt had NO moral obligation to bail out BILLIONAIRES. They were obligated to arrest them. Instead they paid them. Iceland arrested their corrupt bankers and their economy is bouncing back.

was asked a few days ago by Zócalo Public Square, a not-for-profit daily Ideas Exchange, to contribute a brief comment to coincide with their upcoming event "Can We Fix What's Wrong With Banking?"

I was specifically asked to address the question "should we have bailed out the banks?" Here is my response:

No, we should not have bailed them out. That’s the easy question.

Now that we have bailed them out, however, here’s the important question: "Will we fix what’s wrong with banking before there is a global currency...