. While we're distracted by gay marriage and high school bullying, our country's financial system remains on the precipice. I wonder how many people know that. Y'know that little "Too Big To Fail" issue that Dodd-Frank failed to properly address? That's not even the biggest problem. We have repealed Glass-Steagall, we have simplistically layered additional regulations to financial processes that don't address the problems, and we have ignored the proposed Volcker Rule that would take significant risk out of markets. The banks are too big and too complex, kids. They are too big to run. They are so big and complex that even the people running them can't assess risk, they can't control the flow of money, they don't know where the fucking holes are. If we don't break them up into more manageable pieces, and I mean within the next year or so, pretty much anything could happen. JP Morgan's $2 billion loss last week provides a perfect example. CEO Jamie Dimon didn't have a clue what was happening, nor did his "people". Here's an excellent, if scary, piece: J.P. Morgan From the piece: Dimons problem and this one goes way back is that he is almost always the smartest guy in the room, and he knows it. But something has happened along the way. The financial system that Dimon and his Wall Street counterparts built became too big to be controlled, much less understood. The clock is ticking, gang, I'm in the industry, and I'm serious as a heart attack. .