What we have is a system failure that is rooted in a societal failure.
Behind our disaster lie the greed, stupidity and incompetence of the
leadership of a generation.
As the U.S. financial crisis broadens and deepens, wiping out the
wealth and savings of tens of millions, destroying hopes and dreams, it
is hard not to see in all of this history's verdict upon this
generation.
We have been weighed in the balance and found wanting.
For
how did this befall us, save through decisions that brushed aside
lessons that history and experience had taught our fathers?
It all began with the corruption called sub-prime mortgages.
The motivation was not wicked. Democrats wanted to raise home ownership
among African-Americans from 50 percent to the 75 percent of white
folks (He means European Americans. -- Ed.). Rove Republicans wanted to do the same for Hispanics.
And, so, the crash came and the panic ensued.
Who is to blame for the disaster that has befallen us?
Their name is Legion.
[...]
"Avarice and ambition," warned John
Adams, "would break the strongest cords of our Constitution as a whale
goes through a net. Our Constitution is made only for a moral and
religious people. It is wholly inadequate to the government of any
other."
In this deepening crisis, what is being tested is not simply the resilience of capitalism, but the character of a people.
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