I believe these tools change the value of different skill sets in a very profound ways. Being good with rules of a programming language and syntax is no longer as valuable as it used to be.
Understanding the problem space is becoming more valuable. Strength in architecture of a solution is another skill that is becoming very valuable.
We are close to getting to a point where someone with overall general (and perhaps not very detailed) understanding of arch and design and a good understanding of the problem space and having a good taste in usability will be able to create awesome solutinos.
I can't wait to see these solutions being created by one or two person teams.
These type of actions will only lead to an outcome that will be extreme.
Eventually, it will lead to a genocide. Once it is all done, there will be a large body of research into how this happened. The primary purpose of it will be to feel good and pat ourselves on the back with how civilized we are.
Then we in the West will move on and try to find another group that we will like to hate.
The more things change, the more they remain the same.
Every business will price their services to the maximum profit point that the market will bear. This is always the case in a capitalistic society.
What changed with the "free" money handouts is that the price point that market can bear increased resulting in higher profit margins than before. Supply limitations and shortages played a part as well as increased cash and hence demand from people.
As this excess savings and money dries out, the equilibrium price point will move the profit margins back to long term averages although it is a slow process.
Bank insolvency is not handled by courts. FDIC has sole and complete control of bank insolvencies. FDIC is the receiver or conservator for handling bank insolvencies by law.
FDIC doesn't claw back bank transactions that have "settled". So if you wire cleared, you are good for the money.
Search for "FDIC Discretion Without Ongoing Judicial Oversight" in the document below
No ongoing judicial oversight Pursuant to Section 11(d)(13)(D) of the FDI Act, except
as otherwise provided, no court has primary jurisdiction over any claims or action for payment
from, or actions seeking a determination with regards to, an institution for which the FDIC has
become a receiver. Further this provision also limits courts’ ability to engage in a review of any
claims relating to acts or omissions of the institution or the FDIC as receiver. Under Section
11(d)(13)(C) of the FDI Act, no court may issue an attachment or execution over the assets that
are in the possession of the FDIC as receiver.