In Salon, see Andrew Leonard’s excellent “The Economy Crumbled“–but then let’s get busy cleaning up our mess. WAC? prefers Pollyannas who like to solve problems. Excerpt:
There were warnings along the way. Cassandras who feared that exotic financial innovation, specifically unregulated at the behest of both Democratic and Republican politicians, was setting the stage for a major systemic shock. But their voices were drowned out by a chorus of status quo defenders who told us, again and again, that financial innovation was making the world a safer, less risky place.