Posted by: Alvin | January 5, 2009

Video of the Week: The Great Wall Street Swindle

This could be called the video of the month since I’ve been gone for so long, but I promise it’s worth it. “The Great Wall Street Swindle” is quite possibly the best explanation about the financial crisis I’ve seen so far and how much it will continue to impact all of us. The video is courtesy of CBC News’ “Sunday” program. It’s clear today how much of what happened was due to rampant deregulation and the accompanying lack of oversight mechanisms, and this video makes it all very clear. This is not a short term blip. It’s going to have massive ramifications and at the end of it all will have drastically damaged everyday people, their homes, families, and businesses. Sadly, instead of concentrating on protecting the human element in all of this, western governments (Canada’s included) seem more concerned with bailing out failing and outmoded corporations. I guess it really does always come back to Polanyi

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: