The Quiet Coup
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in ... Full Story »
Posted by Kaizar Campwala
This story should be front and center of every paper, cable news channel, and news magazine in the country. All though long, it covers exactly what went wrong and how it can be fixed. Anyone with any sense at all and not under the control of the oligarchs that got us into this mess would be able to comprehend why the deregulation, greed, and government influence by these individuals and corporations caused the economy to fall. What bugs me most about the current situation is, those that caused the problem still think they deserve bonuses, are first in line for the bailout money, and pay themselves first before even attempting to stabilize their companies. The disconnect between their actions and the results are astounding.