The erosion of faith goes deeper than that, as James Galbraith discusses in this talk from earlier in the year. http://www.nakedcapitalism.com/2011/08/james-ga

The erosion of faith goes deeper than that, as James Galbraith discusses in this talk from earlier in the year. http://www.nakedcapitalism.com/2011/08/james-galbraith-on-fraud-and-how-bad-economic-thinking-got-us-in-this-mess.html http://www.nakedcapitalism.com/2011/08/james-galbraith-on-fr... This is the diagnosis of an irreversible disease. The corruption and collapse of the rule of law, in the financial sphere, is basically irreparable. It’s not just that restoring trust takes a long time. It’s that under the new technological order in this field, it can not be done. The technologies are designed to sow and foster distrust and that is the consequence of using them. The recent experience proves this, it seems to me. And therefore there can be no return to the way things were before. In other words, we are at the end of the illusion of a market place in the financial sphere.