Satyajit Das: Finance Incomprehensible to All
on Saturday, July 11, 2015Satyajit Das Money Quotation saying finance is made complex to hide its simplistic goal of fleecing all pariticpants in banking. Satyajit Das said:
“Modern finance is generally incomprehensible to ordinary men and women … The level of comprehension of many bankers and regulators is not significantly higher. Like the wolf in the fairy tale: ‘All the better to fleece you with'” — Satyajit Das
In this quote, financial expert Satyajit Das is sharply criticizing the opaque, complex nature of modern finance. His view is that sophisticated financial instruments, trading strategies, and regulatory frameworks have become so convoluted that average people cannot reasonably understand them. Das suggests even experts within the banking and regulatory fields do not fully comprehend the modern financial system.
He implies this lack of transparency is intentional, likening it to the fairy tale wolf dressing up to deceive its prey. Das seems to believe the inscrutability of finance allows those within it to take advantage of or “fleece” both the public and officials for their own gain, without accountability.
Overall, the quote conveys Das’ perspective that the financial world has become purposefully bewildering, which shields problematic or predatory practices from oversight while concentrating influence and profits within the industry. He argues reforms are needed for finance to become understandable and aligned with serving broader economic interests rather than a select few.