When a blatant conflict of interest is ensconced in a
regulatory system, the public can expect to be insufficiently protected from
being harmed. Such a people is probably too tolerant of such conflicts, or else
too weak to effectively counter the concentrated power of the vested interests
benefitting from the sordid design. I submit that the relationship between U.S.
banks and the Federal Reserve is plagued by a clear conflict of interest, and
furthermore that the refusal of the Fed and the U.S. Justice Department to go
after fraud committed at the big banks is a direct result.
The full essay is at Institutional Conflicts of Interest, available at Amazon.