Sins of the System

Jim Wallis (“A Bad Morality Play,” February 2010) beautifully exposed the false dichotomy between greedy, casino capitalism and communism. The “father of capitalism,” Adam Smith, excoriated businessmen manipulating the government for private gain and explicitly advocated regulation of banks. His goal was widely diffused wealth, including Main Street and all the side streets. The sins of Wall Street are not just about morality in the religious sense. Those sins have undermined the efficiency of our economic system while turning our economy into socialism for the rich.

John E. Hill
Quincy, Massachusetts

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