I do not understand why no one is proposing the best solution to correct the problems of an out of control industry - Free Markets. We do not have a free market in the financial services industry. We have an industry controlled by an oligopoly comprised of a small number of very large financial service companies. The market works best for consumers when not only are they looking out for their personal self-interest, but the companies in the industry providing the goods and serviced, composed of a very large number of companies, are also looking out for their own rational self-interest. This works because the market is free and it is in the self interest of the profitability of the producers to provide what the consumer wants at the lowest cost. Today this industry is controlled by a small number of very large companies who have formed an oligopoly. Today it is in the interest of the members of this oligopoly to keep it alive. Bust up this cartel and give us back our free markets
Showing posts from March, 2011
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UPDATE: August 31,2011 - See below It was only a couple decades ago that AT&T was broken up for the benefit of free markets. Well, once again At&T is buying T-Mobile and taking over a larger share of the wireless phone market. The government is doing nothing to prevent our free markets from being destroyed by oligopolies. It sure must be nice to be a politician on the take from these free market choking entities. Update : Per The Economic Times the Justice Department is seeking to block the above merger.
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