Someone else who agrees with me...

The rot is deep and no one can do anything about it.

The Next Crisis Will Be Ten Times Bigger « Stop the Lying

If we don’t come to understand the underlying reasons for the current crisis and enact real reform of Wall Street and the banks and get big corporate money out of our elections we face a future that is truly frightening. (Yes, corporate money — total revenues of the 500 largest American corporations are 1,000 times larger than all our unions’ resources combined). There is still time to act, but we must realize that our congress on its own is not going to enact meaningful regulation of Wall Street and the banks, their biggest campaign contributor and lobbying force. Pressure for reform must come from our citizens working together outside of our traditional political parties and governmental representatives. There is no question that big banks working closely with and paying off our elected representatives to remove regulations on the books caused the current crisis and much of the current government operating deficit. It is unfair to ask American workers to stay on the job past 70 years of age to solve this financial problem as they didn’t cause it. Similarly, it makes no sense to ask average American taxpayers to step up and bail out bank creditors at 100 cents on the dollar as it was these creditors who agreed to take this repayment risk and received the rewards over time in increased interest payments from financing these corrupt banks. Americans cannot just ignore this problem and hope it goes away. Luckily, there are things we can do like cutting the defense budget (over a trillion dollars annually once you add in the costs of our intelligence services and the Department of Homeland Security) back to its level of just fifteen years ago which will save close to $700 billion a year. But first we must limit the lobbying power of the defense industry.