We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore LappĂ©, excerpt from Time for Progressives to Grow Up

Tuesday, March 16, 2010

Repo 105 (5:57m video)

from Marketplace. A simplified explanation of one of the accounting tricks used (repos) by Lehman Brothers to hide the dismal state of their enterprise in order to keep the Wall Street scams going as long as possible. And if you wish to know more about Lehman Bros. and repos, read this recent report.

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