More proof the US is becoming a banana republic

Investigator: OTS regulators knowingly backdated capital injections

From Francois in the comments to the story at Clusterstock

That is what is bound to happen when you systematically gut the government of the best and leave in place ayatollahs of a fixed ideology for whom competence is for the birds.

Whether Americans like it or not, they’ve got a stark choice on their hands. Either you fire the ideologues, replace them by competent people that get remunerated accordingly. And yes bitches! I’m talking about differential pay based on expertise, and a career path that would motivate these people to STAY in public service, instead to seeing public service as a mere stepping stone to plush jobs in the private sector.

That, or we keep sliding into a full-fledged, untrustworthy banana republic that will experience a long and painful decline toward 2nd class nation. You CAN’T have a long-term vibrant economy grafted to a sick and dysfunctional regulatory/political system. Oh! it can last for a while, but that’s it.

And if you think for a second “This CAN’T happen to us!” I say: Mbwahahahahaha! It has happened time and again to civilizations that were once deemed invincible. There is no amount of exceptionalism or innate superiority that protect us against that.

So, what’s it gonna be?