Surviving Capitalism (Not) : Exec Who Blew Whistle on Moody’s Ratings Sues for Defamation

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 Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, September 14, 2010

Exec Who Blew Whistle on Moody’s Ratings Sues for Defamation

by Marian Wang from Pro Publica.

It seems to me that this article supports the argument that many knowledgeable people in the financial services industry were aware of the developing financial explosion; but because there was just too much money to be made, they all went along with the game and the deceptions. Huge profits that are possible by gaming the capitalist system are far more addictive than any chemical drug.