Jesse quotes Joseph Stiglitz, and summarises five key moments:
1. Reagan's nomination of Alan Greenspan to replace Paul Volcker as Fed Chairman
2. The Repeal of Glass-Steagall and the Cult of Self-Regulation
3. Bush Tax Cuts for Upper Income Individuals, Corporations, and Speculation
4. Failure to Address Rampant Accounting Fraud Driven by Excessive and Flawed Compensation Models
5. Providing Enormous Bailouts to the Banks without Engaging Systemic Reform for the Underlying Causes of the Failure
3 comments:
6. Solve absolutely nothing.
#4 is a really interesting one and like yourself, Sackers, I reckon 'fraud' is meant here in the literal sense
are there enough forensic accountants, prosecutors and courts to bring them all to book ?
James: the game goes on until it can't go on, I suppose.
ND: ...I wish.
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