Horrible financial mess

"Reining in the Bankers." I look at Larry Kotlikoff's proposal for radical financial surgery. Excerpt:

Kotlikoff’s new book Jimmy Stewart Is Dead: Ending the World’s Financial Plague with Limited Purpose Banking offers an ambitious proposal to fix — or, more precisely, replace — our ailing financial system. The title refers to It’s a Wonderful Life, in which Stewart played a trustworthy small-town banker. Any resemblance the banking industry may once have had to that movie is long gone, as Kotlikoff points out, and the recent financial sector — with bankers taking on massive risks they neither disclose nor understand, then leaving taxpayers with the bill —is better described as “It’s a Horrible Mess.”