TW: There are so many wanting to skip past the trillions in wealth destruction and return almost blindly back to the status quo. The status quo got us here. Two massive bubbles blown within the space of a decade. Inflation adjusted markets are at early 1990's level. ZERO return for fifteen years. Folks should be outraged and demanding reform.
Instead mostly what I hear now are the same propaganda on CNBC..."keep government out, cut taxes, too much government spending". We may have too much or too little regulation, too much or too little taxes and spending but lets evaluate it because if we only know one thing it is the status quo IS broken. Going back to what we were doing before ensures repeating history.
From Barry Ritholz at the Big Picture blog:
“Lets stop playing the blame game.”
I cringe every time I hear someone say that. Why? Because its not a game — this is serious business.
As a nation, we need to understand how this economic mess occurred; why certain companies were allowed to operate with reckless abandon; why the taxp-ayers had to pay to clean it up. We need to hold those people who broke the law or violated their fiduciary obligations or the public trust accountable. We must stop wasting taxpayer monies. We have to prevent this from happening all over again;
Or, we can stop playing the “blame game,” let the guilty parties walk away wioth their tax-payer funded lucre, and allow the sheeple to go back to watching American Idol.
None of this sounds like a game to me . . ".
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