It’s tempting to see our deepening economic crisis through the prism of the culture of greed that flourished under the let-markets-run-wild ideology of the outgoing Bush administration.
To be sure, any administration that lets private companies rip off the military in wartime…
AP Photo/Mark Lennihan
We now know — thanks to, among other things, the revelations of whistle-blowers whose warnings went unheeded — that the explosion in home mortgage defaults and the ongoing credit crisis might have been avoided if the Federal Reserve had…
Monday was one of the most wrenching days in the history of the American financial system. One blue-blooded investment bank, Lehman Brothers, sought shelter under Chapter 11 bankruptcy laws, while another, Merrill Lynch & Co., announced it had sold itself at…
Gas prices are up, a lot. Housing prices are down, a lot. Jobs are disappearing. The American auto industry is on its knees, and 2,400 Chrysler workers soon will lose their jobs in Fenton.
No wonder America is in a funk.…
