brinkmanship

why do democrats keep a bipartisan approach when the republicans are recalcitrant and uncooperative, is unseating Obama more important than bringing default to US credibility.? Bachman and company insist that paying only the debt interest is acceptable and slash social programs in the next session. It is the most stupid position that any politician worth his/her salt can bring up, don't they know this is the same schema that wrought the sub prime rate debacle, or fascism and racism the main staple of the conservatives?

alan greenspan and the western world financial crisis

Greenspan in his tv interview has claimed that he could not understand why the brutes of Wall Street could not regulate itself effectively to protect the interests of its stock holders.Surprise! Surprise! You mean he cannot figure out that Wall Street has its own financial interests? Who makes up Wall Street? Are they not the full beneficiaries of the global financial manipulations by the likes of Reagan and Thatcher? When an old man who had designed globalization with the full cooperation of Wall Street, the sold out political and civic leaders and lobbyists  who are buddies with the World Bank and the IMF pretends confusion over his disciples' fraudulent  financial  ''products", it is pathetic. It is unmitigated  Banality of Evil.
What is the greatest disaster that hit industrialized nations like US and Canada? Outsourcing. Our government leaders [Canadian Mulroney Conservative and US Democratic Clinton administration} signed on the Free Trade Agreement, later Mexico] knowingly or unknowingly? created conditions that destroyed our manufacturing base and replaced it with the deskilling of massive numbers of workers through service industries like finance[nail clipping, hair doing, McD's] which is controlled by stock exchanges in cooperation with the banks. Generally, captains of industry are extinct species. Industry is mainly owned by banks with few exceptions.. This is how manufacturing was easily  moved to areas of cheap labour. Perhaps, we workers and middle classes have forgotten what the banks did to us in 1929, and it was not the first time either.
Those of us who thought globalization will not affect us had another think coming. Out sourcing relegated us and our children to slinging hash, fortune telling, gambling, drug addiction, unprecedented cyberspace perversions, gangsterism, drug trade, slave trade, mind boggling reality shows, religious fundamentalism, foxes'news with no relief in sight. Imagine rust belts, closed lumber mills, decaying infrastructures.When the market offers mostly low paying jobs[meaning grand corporate profits], workers are not inspired to transform themselves to greater heights because even lateral opportunities are scarce and mind numbing. Loss of social mobility after globalization has demoralized many.
Wall Street is nothing but more than inventive. Look at the junk bonds, the mother of all frauds which eventually landed us to the sub prime rate debacle. Owning a home has been every man's dream. It was the bait that hoodwinked us into swallowing hook line and sinker the notion that real estate will always rise for eternity? Because of need or greed, the impoverished clutch at this all too good a promise of private property  by the hundred thousands and promptly fell on the proverbial sword.
Financial crisis is not the specter, the unseen hand of the market; it is man made, as solid as  the people who own and operate Wall Street, the speculators, & the Banks who demand through their compradors that workers and middle class wealth bail them out, making profits hand over fist in the process.
If we continue to believe as gospel truth  the clear irresponsibility, the feigned confusion and the implicit threat of the elfin Greenspan, i.e. he is the only game in town, then we deserve whats coming to us: another financial meteor on the horizon with out our space cowboys. guys, why do we keep shooting ourselves in the foot?