- In 2008 several factors were at play as mentioned in previous articles but they are only the outward manifestations of the underlying problem of today’s society. We as a society have not learned to find peace with our everyday lives so we look to other means. While money may solve several continuing problems, it in itself cannot provide happiness. So try as many might, the search for contentment through excess spending and greed, whether in business or personal endeavors is doomed for failure. 2008 was just another point in time in which the tipping point was exceeded.
- Read "13 Bankers" by Simon Johnons. It's all laid out there. Hedge funds and all those derivatives you mentioned weren't regulated. Banks and AIG were allowed to use depositors' money to make risky investments. Fannie and Freddie did the same with government guaranteed funds. They were private companies and knew the government would bail them out. Nothing has changed. Wall Street is bleeding Main Street dry, and who's stopping them?