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The Financial Crisis Could Shake the Foundations of America

alternet.org — We are witnessing a momentous event -- the great deflation of Wall Street -- and it is far from over.

Bury
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  • Fangsinmybeard, on 07/18/2008, -1/+22Can we take some shovels to Wall Street and bury it under a bunch of crimes against humanity?
    • richmomz, on 07/18/2008, -0/+3They are burying themselves just fine without outside assistance.
  • alapoet, on 07/18/2008, -0/+16The pity of it is, it's the rank and file working class that ends up suffering for the misdeeds of the Wall Street elite.

    Meanwhile, they've been busily insulating themselves from the consequences and sewing up big golden parachutes.
    • CoolHandLuke70, on 07/20/2008, -0/+1Not if we lynch the wall street elite!
  • Conspiracy20, on 07/18/2008, -1/+6The crisis has the potential to transform American politics because, first it destroys a generation of ideological bromides about free markets, and, second, because it makes visible the ugly power realities of our deformed democracy. Democrats and Republicans are bipartisan in this crisis because they have colluded all along over thirty years in creating the unregulated financial system and mammoth mega-banks that produced the phony valuations and deceitful assurances. The federal government protects the most powerful interests from the consequences of their plundering. It prescribes "market justice" for everyone else.
    • odigity, on 07/18/2008, -0/+3Stop. Free markets are not to blame for this - we haven't had a free market in a century. All the problems can be traced back to government force, especially the Federal Reserve.
    • desotohawk, on 07/18/2008, -0/+1unregulated my ass!, we have so many regulations ***** up our money, banking and the economy. the fed is mostly to blame. if we truly had a free market with real money we wouldnt have these problems. soon we will be wiping our asses with dollar bills because the money will be so worthless and toilet paper will cost too much!
  • richmomz, on 07/18/2008, -0/+5Maybe some good will come from this - people will no longer live in excess and learn to value things that don't carry monetary value once again, like family and friends.
  • wholeness, on 07/18/2008, -0/+3The people should start creating their own barter system where they directly trade hours of human energy to gather, create or provide services to other people in return for things those other people have gathered, created or given to them, all of this without using any govern-mental monetary system. This way products and services would have tangible values that cannot be manipulated by greedy world bankers.
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