The New York Times lead editorial this Thursday lamented the "sweetened" version of the bill passed by Senate for doing too "little to avert the defaults and foreclosures that are pushing house values ever downward," and called it "unwise and unfair" to leave struggling American homeowners out of the bailout bill. Why did this bill provide nothing to prevent or avert homeowners' foreclosures?
Dallas Federal Reserve Bank President Richard Fisher chalked up the cause of the financial markets crisis to "a sustained orgy of excess and reckless behavior."
Now Congress has engaged in its own sustained orgy of excess and reckless behavior.”
The blame can be pinned on the corporate executives, but the corporate executives have and always will be corrupted by the greed that comes from engaging in their casino capitalist endeavors.
What the public should be doing is blaming Congress. It should be calling on Obama to find the moral fortitude to whip Congress into shape, to whip his administration into shape, and to figure out which side his administration and Congress will be on.
You may not like it when society points fingers, but, let’s face it---Fingers must be pointed if we are to get out of this mess. Accountability for crooks must occur if we are to stem the tide of this financial crisis.
You may not like the man, but listen to the words Ralph Nader said in October 2008.
If we do anything to fight corporate dominance in America, we should consider these words as we move forward and find a way out of this mess that politicians and corporate crooks have created with the silent approval of Americans like you and me.
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