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Amazing article! I subscribe to the magazine because they have in-depth investigative reporting on interesting topics like this. Vanity Fair is another good place to fine investigative reports on topics.
I read a biography It was of a man named Fokker. You may remember Fokker airplanes? Well in it they described in great detail some of the shenanigans that went on in fighter aircraft procurement in WWI. Do you want to know why the lost the war? Because the good airplanes were procured in small numbers and the bad ones were procured in large numbers. The makers of the bad ones had more money to bribe the pilots that were reviewing the airplanes. It probably was not the difference between winning and losing but it could have been. Time to put a stop to corruption.
Looting Main Street : Rolling Stone (http://www.rollingstone.com/politics/story/32906678/looting_main_street - broken link)
The "local authority" should be the ones having their feet held to the fire. The people who voted them in are also to blame. The "environmentalists"? Well, I guess they were just pushing to protect the environment and screw anything and anyone else.
That article should be a real eye opener for anyone wanting to know about how we ended up in this recession
From the article:
These guys aren't number-crunching whizzes making smart investments; what they do is find suckers in some municipal-finance department, corner them in complex lose-lose deals and flay them alive. In a complete subversion of free-market principles, they take no risk, score deals based on political influence rather than competition, keep consumers in the dark — and walk away with big money. "It's not high finance," says Taylor, the former bond regulator. "It's low finance." And even if the regulators manage to catch up with them billions of dollars later, the banks just pay a small fine and move on to the next scam. This isn't capitalism. It's nomadic thievery.
Former Senator Phil Gramm, from right here in Texas. Former chairman of the Senate Banking And Finance Committee. The same guy who in July 2008 said that "This talk of recession is all just in the people's heads. We've become a nation of whiners."
And so many Fox afficianados blame Barney Frank for the financial crisis.
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That article should be a real eye opener for anyone wanting to know about how we ended up in this recession
