Monday, December 26, 2011

Wall Street and how we got here

We have just passed Christmas where spending is a virtue. We have seen an autumn of demonstrations about the evils of our economic system. The question is what comes next? Keep occupying the street? Or something else?

Anybody who reads my blog knows what I think has to come next is running and supporting people for the Senate and House who recognize what went wrong and are willing to fix it. We who call ourselves progressives or liberals must run people with our same set of values as the Tea Party (and the wealth behind them) supported in 2010.

If we succeed and buck the party system with new people (Tea Party pulled it off), they will be at odds with those who are supporting the status quo or want to make government even less able to curb economic evils. It should be an interesting year to say the least. Take a look at the following article for one take on this.

2 comments:

MerCyn said...

A very good article from one insider's perspective. I don't know how much will change. Strong regulation remains a pipe dream and enforcement lax. I think everyone should be required to take a meaty economics course before heading out into the real world. I also worked in the financial world, and the lack of education and understanding by so many people makes it understandable why so many people get caught up in mortgages they cannot afford and investments they do not understand.

Ingineer66 said...

The politicians are in bed with the Wall Streeters and are partially responsible for the economic crisis now just as in 1929. Which means the OWS folks should be protesting on the lawn of the White House and Capital as much as Wall Street. And this shows that much of what OWS is complaining about is the same thing that the Tea Party is complaining about. Nobody on the left wants to admit that, but it is true.