The Prosecution will Soon Rest Its Case

The evidence is overwhelming that the stratospheric rise in financial industry profits over the past few years was essentially a massive pump-and-dump scheme perpetrated on a jealous and cowering public.  Robert Peston’s article for the BBC is only the latest in a near continuous stream of irrefutable argument.  His analysis deals exclusively with the UK financial industry, but these days there is little difference between their money changers and ours, except for the accents.

The truly terrifying part is that there are many high officials of government and industry that still believe this casino capitalism represents the economic pinnacle of our immediate past and foreseeable future.  For those who rely on the casino for their wealth such faith is understandable, but for the rest of us it can only be self-destructive delusion.