(no subject)

[randomness]

Societies do not function without trust.

What is happening now in the markets is what happens when trust--between banks, between companies, between people--disappears.

Nearly fourteen months ago, I posted about fear and suspicion being bad for markets. What I said is just as true now as it was then.

But when trust is gone, how do you get it back?

Comments

[marmota.livejournal.com]

Generally to a conservative, once trust is broken it's gone. Punitive, not rehabilitative, mindset. I don't get it, particularly as it runs counter to the supposedly pervasive christian mythos they follow. Anyway... it's funny how suddenly redemption is ok when *they* ask for it, just like it's not really socialism somehow when *they* ask the government to take over businesses, and it's not really blaming the victim to bail out shady loan sharks instead of homeowners stuck with fraudulent mortgage terms.

*cough* Sorry, got a bit off topic. They'll *want* to get it back, but they won't. My guess is the financial institutions will change their names and otherwise morph a bit into entities the public won't directly connect with any prior shady dealings. Starting from "no trust" is easier than starting from "untrustworthy", particularly with people unwilling or unable to do any research.