There are certain lessons we as a society constantly have to re-learn. Don’t go to war on an iffy premise. Don’t ally with shady characters. Don’t keep away, or take away, peoples’ rights based on religion. And don’t let banks operate without extensive oversight. See also this. And this. And many other things.
That’s Elizabeth Warren, who’s dialogue was apparently written by Aaron Sorkin, reminding us that when banks engage in questionable behavior, the people at the top are the ones who benefit the most while those at the bottom, who lack PR firms, are the ones who suffer the most.
But this is no surprise. The American banking system is shady on almost every level, and while Wells Fargo is pretty bad, I’d lay good money that in the next five to ten years we’ll find someone who is even worse.
It would be nice, it would be very nice, if we could just learn these lessons, understand that these people, who are motivated solely by profit, cannot be trusted. It would be nice if we could pass legislation that would put severe limits on what they could do.
It would be nice, and it’s likely to happen starting next year. Well, provided that Hillary wins. If it’s Trump, I’d start sketching out plans for Trumptowns.