Wednesday, January 26, 2011
The Newspaper of Record
The New York Times is considered our nation’s newspaper of record. In the future, when people want to know what caused the Great Recession, one of the first places they will turn to for a record of the events will be The New York Times. In that context, this headline becomes even more important.
Financial Crisis Was Avoidable, Inquiry Finds
”The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a federal inquiry.”
Failures in government regulation...“”
“Heedless risk-taking by Wall Street...”
The greedy got wealthy and used that wealth to dismantle the government regulations that had been put into place after the last economic calamity. They bought the politicians and then they bought the regulators. And they did it with money they stole from you.
January 26, 2011