US Economy: Only a Roosevelt-Scale Counterrevolution Can Prevent Great Depression II - by Robert Kuttner
"Free-market extremists brought the US this needless economic collapse. Here's a rundown of the mistakes we've made and the reforms we need now.The current carnage on Wall Street, with dire spillover effects on Main Street, is the result of a failed ideology -- the idea that financial markets could regulate themselves. Serial deregulation fed on itself. Deliberate repeal of regulations became entangled with failure to carry out laws still on the books. Corruption mingled with simple incompetence. And though the ideology was largely Republican, it was abetted by Wall Street Democrats."
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