Monday, September 27, 2010

The Public-Utility Function

There are some comments of note by Michael Lewitt on the financial system in this Barron's article:

Among other things, he says that the financial system and its public-utility function has not been favored enough.

He argues for a balance more in favor of that function.

The reason? For society and our economy, capital is the lifeblood.

I'm realistic about whether the most logical financial system changes will happen.

Entrenched interests will, understandably, resist reigning in some of their speculative but highly profitable activities.

Adam

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