Saturday, November 05, 2011
"If a man walks in the woods for love of them half of each day, he is in danger of being regarded as a loafer; but if he spends his whole day a speculator, shearing off those woods and making earth bald before her time, he is esteemed an industrious and enterprising citizen." Henry David Thoreau from Life Without Principle.
Now this nation has been in the thrall of the financial speculator industry of Wall Street to such an extent that it has been massively publicly funded. The decoupling of Wall Street from the center of the financial universe of the United States is essential, instead of Wall Street being America's Sun it ought to be one of its distant stars.
Why would the national political leadership allow mortgages to become a financial product called credit default swaps that would endanger the fiscal health of the nation?
Now this nation has been in the thrall of the financial speculator industry of Wall Street to such an extent that it has been massively publicly funded. The decoupling of Wall Street from the center of the financial universe of the United States is essential, instead of Wall Street being America's Sun it ought to be one of its distant stars.
Why would the national political leadership allow mortgages to become a financial product called credit default swaps that would endanger the fiscal health of the nation?
