Suppose you are a bankster. Your operation is covered by law & politics. The judicial system works on your behalf and the politicians bail you out when things go wrong. Take an entity as Deutsche Bank: it should not exist anymore, but is kept in place. Take JP Morgan: they are investigated for rigging but will get away with some fines. Like other banks did with money laundry on behalf of the drugs trade. If you can' t do the time don't do the crime is an old saying. Banksters are on average smarter than other people and they decided to buy the time... So they' re free to do the crime.
Did you ask yourself why banks wanted to get so many small fish in their investment schemes? Why fund managers are that rich? Even the ones that do not run a ponzi? They take risk with your money, collect the bonuses and are just feeling fine. You lay awake because of your investments, they do not. If you win or lose does not affect them. Capisce? Your money is in their game. While playing that salaries and bonuses flow big. When things go wrong? Your problem.
Governments and central banks helped a lot to have even the poorest person take risk. Save money? No interest or negative interest. Have a pension? We increase the years you have to work for it and pay less than you ever invested - if at all, because we have an option of very nice bankruptcy frauds. That delivered the poor people to the investors. Mainly banks, that had the customers anyway.
My hope for blockchain: everybody invests directly and there are no banks or funds involved. My hope for the reforms that will follow this financial crisis: the market will be just about buying and selling - without shorting, futures, insurance, leverage and all financial instruments that create derivatives that exceed by far the volumes of the real market.
Well - that is not likely to happen any time soon. Just hope these remarks will wake up some people that trust their banks to invest on their behalf. When things go the wrong way somebody in a Lamborghini, who once said he was your friend, comes to repo your second hand Volkswagen...
<br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://cryptmove.com/2020/03/14/taking-perspective/ </em><hr/></center>
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