The Structure of American Financial Statism

Almost all of the highest ranking regional US central bankers (i.e., political commissars in charge of central planning of interest rates and money supply) are at the same time chief executives of various commercial banks. In other words, the shape of the modern banking industry is that of macroeconomic communism combined with corporate favouritism - the very antithesis of laissez-faire capitalism. Thus, whoever claims that the recent financial crisis (or, for that matter, any financial crisis of the last 100 years) has anything even remotely to do with laissez-faire capitalism is either a perfect victim of statist propaganda or a cynical beneficiary of the status quo. Tertium non datur.