►Magic 8-Ball Regulation on Capitol Hill and the Emptiest Street in Lower Manhattan - Killer Buffalo
America’s financial meltdown is taking a massive toll on world markets, sending Japan’s Nikkei 225 and Europe’s Bel 20 indexes each down more than 30% in the past year. Most Americans, the 110th Congress included, are more concerned with domestic and still potential economic losses than foreign ones. Thus they look to the fundamental factors which have led to the recent financial collapse for reform: most notably the capitalist drive to increase profits coupled with twenty-five years of deregulation. Had the 109thth Congress three years ago examined what led to America’s financial growth over the past two decades, it might have found two dynamics: the capitalist drive to increase profits and the unregulated opportunity to do so. Continue reading here.
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