In pursuing financial security, the strategy of putting our money in the hands of financial brokers is a little like placing the responsibility for horse racing bets with a crack-addicted mob bookie. Instead of wisely laying out cash on one race and a single horse, our “bookie” buys for us part ownership in a whole stable of three- to five-legged horses, most ridden by ego-maniacal, money-hungry myopics.
Naturally, then, it takes forever to find out if our “investments” were with real winners or with pathetic losers–these were not the fastest steeds, nor the swiftest jockeys. But, to the “bookies,” it makes no difference anyway: As long as they’ve got a cut of the money riding on the whole stable, they get their “piece of the action” either way–either from our winnings–or from somebody else’s. “The fix is in”–or they’ll get their next fix–however you look at it.
So, how could we keep our money safe, stabilize the economy, and prevent banks from getting too big to fail? We go to the mattresses.