“The core problem over the past few decades was not bankers’ greed or the complex financial instruments that enabled them to satisfy it. It was the immense pyramids of debt built up by the Anglo-Saxon half of the world, and the equally massive mountains of savings created in the other. Almost everything that occurred in the past couple of years was, directly or indirectly, a consequence of this.”
- Ed Conway, Daily Telegraph. He has not bought the whole free market line on what is wrong with finance today, but this is pretty good.