For those interested in finance and macroeconomics,the Washington Independent has an article on the President's Working Group on Financial Markets, an elite US group that protects large consumer and investment banks.
To be sure, the financial sector is important. It is impractical for most people to buy a house or to go to university without borrowing. The finance sector does help people grow their savings for retirement. It enables investment by businesses, and we wouldn't have jobs without industry (although there are certain industries that should clean their act up or face judgment).
However, the U.S. Federal Reserve recently brokered a buyout of Bear Stearns, an investment bank, by JP Morgan Chase, a diversified financial corporation that includes investment and consumer banking. The Fed guaranteed a lot of Bear's rather questionable loans, putting taxpayer dollars at risk.
Had Bear Stearns collapsed, the entire financial industry could have been put in jeopardy. A lot of businesses and individuals might not have been able to get loans.
However, the article makes the case that the public should have a lot more information about what and how the Working Group is doing.
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