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General News    H2'ed 3/5/10

Whither Financial Reform: Why They Don't Get It?

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What Are They Waiting for? Whither Financial Reforms? Fears of A Second Crash Are Real but Congress Lacks "Appetite" for Action


By Danny Schechter

Author, The Crime Of Our Time?


What will it take? What are they waiting for? What part of the reality of a systemic crisis that will get worse don't they get?


How is it possible that after near three years of economic turmoil, with possibly hundreds of TRILLIONs down the rabbit hole--not that anyone is counting or apparently can count--that the geniuses who run our economy still don't "get" that the sh*t has already hit the fan? How many more jobs and homes have to be lost?


Michael Moore is not the only one predicting a second crash. Paul Krugman is all out words excoriating the Administration for its tepidness. Nouriel Roubini, who forecast the first meltdown, now says we are in serious danger of a "double-dip," a lethal combo of rising inflation and deeper recession.


Woe to us if we can't see the handwriting on so many walls.


The people in the know know that nothing has been fixed, know that all the stimuli have barely stimulated, that the new jobs bill will never generate the number of jobs that are needed, and that the banks have obscenely been raking in oodles of money thanks to all the financing taxpayers pumped into their coffers.

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News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
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