Why Do Big Banks Hate You?
“Even the supporters of our existing financial structure — men like former Treasury Secretary Henry M. Paulson Jr… the White House economic adviser, Lawrence H. Summers… and JPMorgan Chase’s chief executive, Jamie Dimon — concede that big crises occur every five years or so. What hit us in 2008–9 was not a “once per century” event. Rather it was the latest, and scariest, in a series of regular global crises going back at least to the 1970s.”
-MIT’s Simon Johnson takes a stab at explaining why huge financial institutions are self-serving and a menace to those of us who aren’t them.