Corporations Gone Wild (As Jefferson Warned Us

For OpEdNews: Mary Shaw - Writer

Today we live in historic times, and I don't mean that in a good way.
First of all, we are suffering the worst economic crisis since the Great Depression. And why? Because the financial industry was permitted to run amok.

Under the relaxed regulations of the Reagan and Clinton administrations, the banks did not prove themselves trustworthy to do the right thing for the economy and for the customers they served. They only cared about profits. Alan Greenspan himself admitted that he had "put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending."

Nevertheless, the wealthy ruling class of Wall Street, largely unpunished, is doing just fine with its multi-million-dollar bonuses. But middle-class and working-class Americans continue to suffer through home foreclosures and long-term unemployment. And small businesses can't get loans to stay afloat.
http://www.opednews.com/articles/Corporations-Gone-Wild-As-by-Mary-Shaw-100712-795.html