We face recurrent, intensifying economic crises (and economic stagnation for the working and middle class in the developed West) because our financial elites are unworthy. They are too often outright criminals - control frauds. They have no sense of accountability, no sense of duty to the nation (or community or world). ...Their anti-regulatory, pro-greed ideology triumphed and produced a global Great Recession. But for government intervention and bailouts they would have caused a second Great Depression worse than the original. And what do our elites do? They blame the least powerful citizens for the crisis the elites designed, implemented, and grew rich on.Read also Part 2
Friday, April 23, 2010
from New Deal 2.0. I haven't had a change to read all of both parts, but Black appears to drop some real bombshells in this interview.