Clearly, Reagan, Clinton and Bush I & II played their parts, but Carper and Castle had a front row seat to the financial services industry’s takeover of the government. Guess what side they were cheering on?
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.
h/t Unstable Isotope