This did not happen to us by accident. It happened because bankers and Wall Streeters bought off and paid off regulators and legislators who were paid to protect us and the United States of America from all enemies, foreign and domestic. Our economy has collapsed, it’s gonna get worse and they are all to blame.
Remember, there have been next to no prosecutions or punishments for any of the parties that caused all this. Washington Mutual, New Century, Indymac, Countrywide. Bear Sterns, Goldman Sachs, JP Morgan. And the list goes on and on and on.
From Naked Capitalism:
This is the diagnosis of an irreversible disease. The corruption and collapse of the rule of law, in the financial sphere, is basically irreparable. It’s not just that restoring trust takes a long time. It’s that under the new technological order in this field, it can not be done. The technologies are designed to sow and foster distrust and that is the consequence of using them. The recent experience proves this, it seems to me. And therefore there can be no return to the way things were before. In other words, we are at the end of the illusion of a market place in the financial sphere.