financial meltdown

[miriam_e]

I hope all my friends in USA manage to weather this financial storm safely.

I've long disliked the insane dependence upon money these days and felt it to be exceedingly dangerous. Instead of feeling victorious at seeing the proof I can only shudder with horror and wish I'd been wrong.

Hopefully this period passes without too much damage to the ordinary folk. It would be nice, though, if this focusses attention on how much more of a threat the "greed is good" slogan is to life than terrorists. Terrorists never stood a hope of doing much damage, but obscenely wealthy corporate executives running scams could bring the entire country undone.

Comments

[miriam-e.livejournal.com]

The thing that bothers me about letting the crooked institutions crash is that the Republicans are in favor of that. This would indicate that the ultra-rich won't be hurt by the crash, only the little people. The crooks running the show will get away clean with their loot and the ordinary people will see all their money vanish.

Ways need to be found to yank all the money from those responsible and pay it back to those who were fleeced. Until that is done it will just happen again, and again, and again, and again, and again...

Thanks for the link to the show. Unfortunately the program is only in proprietary flash or itunes formats. I downloaded the transcript and will read it tonight.

You might be interested in a feature that Background Briefing did in September last year here in Australia about credit crooks from the USA and the shaky underpinnings that led to the credit crisis. They've made the mp3 available for download again.
http://www.abc.net.au/rn/backgroundbriefing/features/default.htm
The "find out more..." link takes you to the transcript.