I would encourage any readers of this blog to go to the following link and read Paul Krugman's editorial in today's New York Times.
http://www.nytimes.com/2008/12/19/opinion/19krugman.html?partner=rssnyt&emc=rss
Krugman raises the point of how this Ponzi scheme was allowed to happen when questions and fears had been passed on to the Securities and Exchange Commission. He also raises the question that I have had for a long time, How much does the money of the wealthy affect politics and the decisions made by our elected representatives. I suspect that it has a very powerful effect. Otherwise, why have the Democrats and Republicans not closed the loop holes that benefit the hedge fund operators and why is there so much reluctance in Congress to pass regulations that favor the ordinary citizen.
I think the reality that exists at present is that the ordinary middle class citizen does not really matter to the rich and powerful. Greed and corruption is rampant in our society.
Will you speak out against the abuses of power?
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