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Reckless Endangerment: How Outsized Ambition,Greed, and Corruption led to Economic --
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<blockquote data-quote="wkmac" data-source="post: 849079" data-attributes="member: 2189"><p><strong>Re: Reckless Endangerment: How Outsized Ambition,Greed, and Corruption led to Economi</strong></p><p></p><p></p><p></p><p><a href="http://www.nytimes.com/2011/05/29/books/review/book-review-reckless-endangerment-by-gretchen-morgenson-and-joshua-rosner.html" target="_blank"><span style="color: #ff0000">NY Times piece on the book.</span></a></p><p></p><p>I'm not a fan of Micheal Savage and before they dumped his program off our local 50k watt mega radio at night, I did hear him one evening talking about the entire economic episode and Savage in his Savage way was screaming for investigations and for heads to roll but unlike most of "rightwing" (I don't totally place all of Savage in that corner) radio he felt the heads of Wall Street should roll as well. And I agree with that perspective. I do believe this was crony or state capitalism at it's absolute worst and a gross corrupting of the old physiocrat Laissez Faire free market model that with all it's faults built small and independent town eg community model of America. A model that has now been all but destroyed not because of true competitive ideas coming into the market to take it's place but by the manipulations and interventions of power to achieve a profitable outcome for the well connected few. The communist model of State in the old USSR system really was no different other than we've illusioned ourselves to believe otherwise.</p><p></p><p>This book seems to me to just make another case of the rotten stinch that exists at the top.</p></blockquote><p></p>
[QUOTE="wkmac, post: 849079, member: 2189"] [b]Re: Reckless Endangerment: How Outsized Ambition,Greed, and Corruption led to Economi[/b] [URL="http://www.nytimes.com/2011/05/29/books/review/book-review-reckless-endangerment-by-gretchen-morgenson-and-joshua-rosner.html"][COLOR=#ff0000]NY Times piece on the book.[/COLOR][/URL] I'm not a fan of Micheal Savage and before they dumped his program off our local 50k watt mega radio at night, I did hear him one evening talking about the entire economic episode and Savage in his Savage way was screaming for investigations and for heads to roll but unlike most of "rightwing" (I don't totally place all of Savage in that corner) radio he felt the heads of Wall Street should roll as well. And I agree with that perspective. I do believe this was crony or state capitalism at it's absolute worst and a gross corrupting of the old physiocrat Laissez Faire free market model that with all it's faults built small and independent town eg community model of America. A model that has now been all but destroyed not because of true competitive ideas coming into the market to take it's place but by the manipulations and interventions of power to achieve a profitable outcome for the well connected few. The communist model of State in the old USSR system really was no different other than we've illusioned ourselves to believe otherwise. This book seems to me to just make another case of the rotten stinch that exists at the top. [/QUOTE]
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