Many of the worst excesses of the age of greed occurred in markets that were anything but free, anything but transparent. Government must be there to clean up markets riven by fraud, corruption, insider trading and toxic products that made risk systemic. Competition demands that governments are prepared to use their anti-trust, anti-monopoly functions to dismantle institutions that have become “too big to fail.”
The above excerpt, taken from a piece recently written by Michael Ignatieff, sounds great, doesn't it?
Unfortunately, like his other suggestions found in the article, none will ever become reality for one simply reason: Today's political parties and their leaders are usually much more concerned about their own fortunes than they are about those of the larger society they govern or aspire to govern.
A safe prediction for 2012: Nothing will change.
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