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Fraud at the Top Bankrupted the Economy

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posted on May, 27 2009 @ 01:32 PM

There seems to be a lack of curiosity about the costly frauds that have flushed our economy down the toilet. There is a tendency to focus blame on politrick(ians), and not look at the larger fraud behind the fraud, in part , because most economists and media outlets minimize its role.
First, its clear that government officials did mislead us, from original deregulators in the Carter-Reagan years to the financial “modernizers” of the Clinton-Bush 2 era with their refusal to accept responsibility for the consequences of their free market fantasies, the gutting of rules and regulations and embrace of a phony “ownership society.”

It is also now easy to blame the now self-admitted “naivete” of Fedhead Alan Greenspan or the continued arrogance and bluster of Democrat turned Republican Phil Gramm who killed Glass Steagall and called fighters against predatory lenders “terrorists.” It is equally easy to scorn those who claim that our government is a “tyranny” and call Obama a flaming Socialist.

This is not a revelation to many here on ATS who have been sharing their thoughts about the corruption in place that has caused the current economic mess we (taxpayers) are footing the bill for...

This article does put some pieces of the puzzle in place to help paint the picture though, take a few and read the piece, and try not to become angry at those whose only desire is to accumulate wealth, morals & ethics be damned..


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