Surviving Capitalism (Not) : Failing to Prosecute Wall Street Fraud Is Extending Our Economic Problems

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, December 14, 2010

Failing to Prosecute Wall Street Fraud Is Extending Our Economic Problems

from Washington's Blog.

More empty rhetoric from financial experts designed to divert attention away from their participation in, and support of, a system which has inevitably evolved into the sociopathic monster that it is. Most of these people are all talk and no action simply because they are a creature of the system and they have done very well by it. The most sincere among them would like to reform the system which, of course, is like trying to train a wolf to become a vegetarian.

Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky and the Wall Street Journal all say that the U.S. economy is a giant Ponzi scheme.

Virtually all independent economists and financial experts say that rampant fraud was largely responsible for the financial crisis.