Make bankers be bankers again, prevent them from b...

Make bankers be bankers again, prevent them from being traders and gamblers, make them responsibly loan money to builders and value creators again, and make them keep the paper so they do loan responsibly. Its near criminal to let Goldman Sachs and Morgan Stanley run as chartered banks. The investment bankers and hedge funds need to be cut loose, gamble with their own money and if they fail they go down in flames, and they need to be ring fenced to prevent them from taking down the rest of the world.

Allow bankers a good living but discourage the ridiculous money they are making. One reason value creators are disappearing is the talented and smart are all going to Wall Street and The City because they know they can get rich quick and retire at thirty without every doing anything hard or of value. They just have to grind out 10 years of high stress life in a snake pit. Its a misallocation of resources to pour all the best people in to financial services.

Restore Glass Steagal in its few pages of glory instead of that financial reform monstrosity. Break up the top 20 big banks in the world so they stop manipulating the world, and so they aren't Too Big To Fail. Penalize High Frequency Traders and day traders and promote investing in stocks instead of gambling. Get rid of dark pools and put equities and derivatives trade on highly transparent markets again. Sunshine is the best disinfectant.

The main problem is the genie is already out of the bottle. Even if you could fix Wall Street, most of the shenanigans have already moved to The City. If you fix The City they will probably just move to Dubai, or Hong Kong or some island in the Caribbean.

I'm totally sick of listening to CNBC at this point because 20 times a day they talk about QE. Begging and pleading for QE, parsing central banker statements looking for QE, euphoria when there is QE, euphoria with an every diminishing half life, disappointment when there isn't QE. Zerohedge is a "goldbug" only because the Fed already massively printed to get out of 2008 which is why gold is $1600 instead of $600, and chances are all the central banks are going to keep printing to get out of the debt hole they are in. The central banks need to stop printing, restore interest rates to sane levels and let the chips fall where they may. It will be a disaster for a year or two but the system will get purged and then maybe it will recover and be a little less insane. Printining money and financial repression is rewarding irresponsible debtors and screwing everyone else. If you want to end misallocation of resources then currencies and interest rates need to return to sanity instead of functioning as economic heroin.