Saturday, March 28, 2009

Weekend Reading - 2 Stories Only

Normally in Weekend Reading I'll post 10+ stories with blurbs within the post - however this week there are two very important, quite epic pieces from The Atlantic and Rolling Stone which I'll post with limited summary. Both are quite lengthy but good to absorb during your downtime on the weekend; they expose a lot of what has really been happening in the country, via the political & financial leadership. This is not "tin foil hat" as people who've been talking about this (hand raised) for a long time are accused. I'm mostly through the Atlantic piece, and many readers have emailed me the Rolling Stone piece with high recommendations so I'll take their word on it and get to that one tomorrow. I am enjoying the fact some of the mainstream media is finally looking much deeper at the themes we've been discussing ad nauseum since blog inception (and things I've muttered about pre blog) The more non traditional sources this gets out to, the more sets of eyes that will be opened at what dirt has been going on out there. The golden goose eggs had been stolen for year upon year, until finally the goose was killed. Hi Phil Gramm [NYT - Deregulator Looks Back Unswayed]. Hello Chuck Schumer. [Dec 20, 2008: NYT - A Champion of Wall Street Reaps Benefits] (trust me, these two guys are just head chiefs, it's up and down the political system) And last... loving the book & speeches Mr. Greenspan! Thanks for your very special gift to the country.

The Atlantic: The Quiet Coup (link here)

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

Rolling Stone: The Big Takeover (link here)

The global economic crisis isn't about money - it's about power. How Wall Street insiders are using the bailout to stage a revolution

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