Can you believe it? The Fed doesn't even try to deny what's going on. They admit that letting the banks ratchet up their leverage increases "financial fragility," which could precipitate another crash. ("flight to quality from shadow liabilities to safe assets.") In other words, the Fed KNOWS the system is nuts, just like they know that it's only a matter of time before the whole bloody thing blows up again and the economy goes off the cliff. Still, they're not going to lift a finger to change the system.
Why?
You know why.
Because a few fatcats at the top like the way things are now, that's why.
If that doesn't make your blood boil, I don't know what will.
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