Simple Solutions To The Financial Crisis
I don’t understand why so many people seem so confused over just how we got into the economic mess we are in and what needs to be done to get out of it. David Corn outlines various explanations here, but none of them really make any sense. It is NOT that complicated — starting with the Reagan administration, we let the financial industry run hog wild with no regard whatsoever for the overall health of the economy. Because of this they took us to the brink of a major disaster, and so the bailout of Wall Street became a necessary evil. Yes, it’s understandable that a lot of people are very irate over that bailout — but there was no other choice. Why direct your anger at the people that bailed out Wall Street? Shouldn’t the anger be directed at the Wall Street bankers themselves? This seems so painfully simple — the villains are the bankers, not the people who bailed them out.
Now once the bailout was done and we were pulled back from the brink, it seems oh so logical that the next step would be to implement laws that would prevent this type thing from ever happening again. You don’t like the bailout, do something to prevent ever needing another one. What’s so difficult to understand there? And yet here we are one year later and there’s been virtually nothing done to reform the system and prevent this exact same sequence of events from happening again. And no, this is NOT an issue of “Big Business vs. Big Government”. It was Big Business that got us in to the mess, and it’s Big Government that has to get us out of the mess. There’s no other option. Big Business does not give a shit about the average American, it only cares about making a profit. We’ve been over this before, time and time again. Why do people fear Big Government? Do they not understand how a representative democracy works? If you don’t like what Big Government is doing, you vote out the current office holders and replace them with representatives that will do what you want. You can’t do that with Big Business — there’s no democracy there, you have no way of changing what Big Business is doing to you and your family and your children’s future. That’s why you need government, and that’s why government needs to be as big and powerful as Big Business is. There’s nothing complicated here at all.