As I have written many times, the economics is the easy part, it is the political side of the solution to the recession and the financial crisis that is the hard part to fix. The people at the top of the economic pyramid are not going to give up their position and place of economic power without a fight. They will use both Republicans and Democrats to win the concessions they believe they need to maintain their money, their power and their status. Those of us far removed from the heights of their glass towers can not begin to imagine how hard these people will work to buy access and influence among those that write the laws of the land. I am afraid that even the President of the United States has to work with these people, as there just no way around them. Banking and the creation of credit is the Life Blood of our economy in the 21st century. To expect a huge change without a fight from the powers in place is very unrealistic. I do not know what is the best we can hope for. We will have to see what unfolds. But one thing is for sure, if we stay silent and do not raise our voices, we will visit more of the same and our past will be our future if not worse. The idea that people’s savings and investments can be trashed, and no one is held accountable should not stand. Fraud has been committed and fraud should and must be prosecuted. More attention and light is needed to be brought to the subject of the credit rating agencies, the commercial banks, investment banking, hedge funds and the conduct of Congress. 300 million plus people in the United States, and such a sliver of them run the show. More light, more light, more light!
Stay tuned.
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2 comments:
Amen. These are the words I would expect from our greatest leaders. Unfortunately, we do not hear these words.
The psych of the human mind at this point in our civilization really amazes me.
Unfortunately, in this era of polls, leadership takes a back seat to the first order of business, getting re-elected. The reality of our situation is that our task is up hill and no one in a position to be heard wants to step on anyone's toes. We just need to continue writing and talking, in the hope that one of these days some of what we write will reach the light of day.
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