The Big Lie That Haunts The Post-Crash Economy

I believe that in order for the idea that “everyone is to blame” to have merit, you would need to prove that the borrowers had as much of or at least enough of power in the relationship between the lender and the borrower and I would bet that this would be so very hard to prove. When society accepts that everyone is to blame, it ignores some big problems such as the underlying issues that led to the housing bubble and the economic crisis. It fails to address the serious consequences of financial deregulation, it fails to address working class wage stagnation, it fails to address the immorality of greed, it fails to address the dearth of manufacturing jobs in our country; essentially blaming everyone leads to blaming no one and leads to doing nothing. There is such a huge mess on our plates that doing nothing is not an option. Wall Street has recovered and then some, doesn’t it bother anyone that the 1% have made out like bandits since 2008? We, the ordinary run of the mill working or unemployed person have suffered tremendous losses and cannot in our lifetime recoup them. The so called brilliant thinkers behind supply-side economics and free market theory failed to see the disaster looming on the horizon. We need to reinstate Glass-Steagal, stop letting commodities be freely traded willy-nilly and establish a financial transaction tax. We need some boundaries and ground rules put on the casino that is Wall Street.
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