Detailed info from the Financial Crisis Report.

I wasn't originally going to post about this topic next, but I just came across some information regarding the Financial Crisis that I think needs to be highlighted and shared with everyone.

The full recent report from the Senate Permanent Subcommittee on Investigations, “Wall Street and the Financial Crisis: An Anatomy of a Financial Collapse”  is a 650-page indictment that reveals the myriad of ways Wall Street lies, cheats, steals and defrauds on a routine basis.

Financial Crisis Report

Unfortunately, it’s too technical to get widely read. So the following Cliff Notes version comes from Les Leopold.  His text follows:

"This study, broken into four case studies, forms a biblical tale of how toxic mortgages were born, nurtured and spread like the plague throughout the land, making money for the financial philistines every step of the way.  

Comments from a college student.

Michael is currently a Junior at Temple University's Boyer School. He wrote the following comments and suggested to me that they might make a good post on my blog.  He is right, so his comments are below:

It's easier for society as a whole to share the burden than to put it on each person individually. Simple logic actually. Fiscal Conservatism is fundamentally flawed because of the increases in technology paired with the decrease in cost of technology. Because the potential quality of life for each person can increase so quickly and cheaply on the whole, a belief that one cannot progressively create programs for a nation as a whole to enjoy under an umbrella of equality is utterly false. Health care is a good example, i.e. in Canada.