This article from Vanity Fair makes it easy to understand what caused the world’s economic meltdown. Short, clear, & covering all the bases, Nobel-winning economist Joseph E. Stiglitz’s piece, “Capitalist Fools,” tells a long story that begins w/ Ayn Rand, her acolyte, Alan Greenspan, & Ronnie Reagan, and continues to the Crash of 2008. POWERFUL & GRIM!!!
As a kicker, there’s another piece from the same issue about the gilded Wall Streeters, & their mighty fall.
there’s Bernie Madoff & his $50 billion Ponzii scheme, Rod Blagojevich allegedly auctioning Barack’s seat, & Sam Israel III, who hasn’t gotten as much ink—to name 3 solid citizens. I’m sure they’re the tip of the iceberg.
Corruption & greed are the oldest stories ever told, but in the last several years materialism has reached unprecedented heights. Middle-class folks were living like millionaires, & suddenly there were thousands of billionaires. Didn’t it seem too good to be true? As “The Real Housewives of OC” hobble along in their Louboutins, there’s a fall-of-Rome feeling in the air.
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