All Entries in the "The Economy" Category
Staying calm in the financial crisis
A survey on AlterNet of what some of the best thinkers believe we’re facing in the coming months and years — and the best ways to prevent complete disaster.
Despite the general consensus among the experts I surveyed that we are almost certainly headed into very rough waters, there was cause for optimism as well, in that most agreed that aggressive and coordinated actions by government could contain the damage. More importantly, the bright spot in this crisis may be (stress on the word may) the blow it deals to the center-right, anti-regulatory paradigm that has guided economic policymakers both at home and in many of the world’s capitals over the past three decades.
Why Kelley Did Not Cause the Financial Crisis — Diana Winston
It is easy as conscious people to place the blame on ourselves. If we do that, we feel guilt, shame and disempowerment. The government wants us to feel bad. Then we don’t act. Deep understanding involves not only seeing our own part, but also recognizing the intricate web of conditions in which our part lies.
It is called structural violence if we blame ourselves when actually the system is at fault.
Lay off my big brother Angelo. — Lori Mozilo
My second confession is that I am the youngest sister of Angelo Mozilo who, up until recently, was Chief Executive of Countrywide Mortgage. I am writing because, although the Congressional hearings on the mortgage crisis did indeed stoke my sense of moral outrage, my anger, this time has been reserved for Henry Waxman and the Democrats on his committee. As for the truth, it has been in very short supply.