Sorry, zombie banks. The laws of the market dictate that we should own your ass. — By Kevin Drum
The titans of Wall Street may not have done a bang-up job of running the American financial sector over the past few years, but would a bunch of politicians in Washington, DC, do any better? We're probably about to find out—and to understand how we got here, and why it suddenly doesn't seem like such a bad idea, you've got to start at the beginning. The very beginning.
In America, it's the stock market that gets all the headlines. If you're sentient enough to fog a mirror, you know that stocks have dropped by half in the past 18 months. It's been a disaster for 401(k)s and pension funds across the country.
But the fact is that this is a sideshow.Read more »