It's important to draw a line between two very different flavors of banker: "restrained" (Dr. Jekyll) and "unrestrained" (Mr. Hyde).
Those who read The Proper Use of Credit (April 4, 2013) know that I see a vital role for credit and yes, banks, in a sustainable economy. But as many observers have pointed out, banks must be controlled lest the predatory, parasitic Mr. Hyde replaces the proper Dr. Jekyll role of providing capital to worthy enterprises and households.
In response to Debt = Serfdom (April 2, 2013), longtime correspondent Jeff W. delineated the difference between Good Banker (restrained) and Bad Banker (unrestrained). Unfortunately, as Jeff explains, it is Mr. Hyde (unrestrained banker) who has captured the political and regulatory machinery of governance.