When Banks Become Law Enforcers (Op-Ed)
A recent blog post titled “When Banks Become the Lawmakers” sparked a realization that banks, and companies that provide financial services in general, are now doing much more than that. In a utopian world of free markets, the interests of any private corporation including banks would need to balance out against the interests of the consumers. In today’s world of continuously growing government, however, the now 3-way scale is heavily skewed against the consumer. The Problem: The debts in the western economies have reached levels unlike anything in history. As a lifetime of work by Martin....
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