1. The financial sector now harms the real economy.
2. The financial sector now produces recurrent, intensifying economic crises here and abroad.
3. The financial sector's predation is so extraordinary that it now allows the upper one percent of our nation's income receivers to capture an unprecedented and ever more hugely disproportionate share of our nation's total income.
http://www.newdeal20.org/?p=5330
Black also says that that the government's entire strategy now " just as during the S&L crisis " is to cover up how bad things are ( "the entire strategy is to keep people from getting the facts ).
Example: 7 out of the 8 giant, money center banks went bankrupt in the 1980's during the "Latin American Crisis, and the government's response was to cover up their insolvency.
Black continues:
There has been no honest examination of the crisis because it would embarrass CEOs and politicians . . .
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