Ides of March 2008: Will Saving Wall Street Save Us?

Danny Schechter the News Dissector has been writing about the economic crisis we’re witnessing for years now. His articles detailed the subprime crap years ago, but no one (mass media) listened. In this article he elaborates further on this crisis and asks some important questions on accountability and responsibility. Unfortunately as we’ve all been witnessing, when it comes to corporate crimes rarely is anyone held accountable and it’s usually we the people who pay for it. Our Judicial branch has let us down. The idea of checks and balances has been thrown out the window. We the people need to end this crap, and revamp all global systems of government.

It’s Not Just Big Banks That Panic In A Financial Crisis

Wall Street has many friends. Its recurring sins and transgressions are pervasive but tend to get a free pass because of the way our society worships markets. Somehow the big boys always tend to take care of themselves. What about the rest of us? In this dramatic economic downturn, can we be secure about our investments, retirement plans, and even the banks that hold our money?

Don’t think that you, me, or all of us won’t be affected by the financial disaster we keep reading about. For starters, the “experts” expect a 25% drop in housing value. Beyond that, a fall off in share price can put our 401k retirement packages at risk. Already an economist at the Bank of America says that the loss from subprime write-offs and declines in share value add up to $7.9 TRILLION. That estimate is already dated. That’s a lot of money…

Posted by Evolucionario