I read my blogs this morning, having omitted them for most of the week (PA, ill, final). I am alarmed to see that the financial-mismanagement cycle has begun anew, apparently unseen by the administration, and ignored by the Congress. So, my fellow citizens, start making some noise.
A pharmacist cannot decide to administer a controlled substance that seems warranted by a person's condition. A nurse cannot decide to discharge a sick patient from a hospital. In health care, there are rules–-even when we can perceive little advantage in breaking them, we do see human error as a risk.
In banking, there are too few rules. And, strangely, in banking of nearly any type, the incentives for outrageous behaviors are plentiful. And sizable.
It is common sense to regulate financial transactions heavily. I mean heavily, heavily, heavily. Again, the incentives are too plentiful and sizable for outrageous behaviors.