I have to admit I don’t know any sheep farmers, but even I know that it’s not customary for these folks to ask the wolf for suggestions about protecting the sheep. Questions about fences and guard dogs are not something about which the farmer would consult with the predator. This is not horse (or sheep) sense. It’s just plain and simple common sense.
That is why I have to laugh whenever I read in the mainstream press about how Wall Street, meaning the big banks, is “resisting” new rules and tighter regulations in the aftermath of the catastrophic meltdown that the Street brought about.
My response to this “resistance” is quite simple: Who’s asking them what they think? And why?
It doesn’t take an Einstein to figure out who the predators were in the events of the last few years. And it certainly doesn’t take a genius to know who the prey was!
Yet, here we are a year after Lehman Brothers collapsed and we are no closer to tougher regulation for these predators than we were before.
Can I understand that Wall Street would “resist” being overseen more stringently? Of course.
But in point of fact, the Street through its reckless machinations and “innovations” nearly brought this country’s and the global financial system to the very edge of the cliff. The only reason all of us weren’t dragged along with Lehman was that the government pulled out all the stops to prevent it.