“The global economic downturn was caused by over borrowing and lending irresponsibly both in the US and Europe.”
“Lending irresponsibly” ? Seriously? Is that the new euphemism for greed-driven, criminal actions at all levels of the banking and real estate industries? How about the actions of the business “journalism” industry, that acted as nothing more that advertising firms and cheerleaders for greed-driven, unsustainable corporate acts?
And the perpetrators of this global fraud, who made billions in profits, walk free and suffer no financial penalties, while the working classes are being told that they have to suffer in order to pay for corporate greed.
Not in my world.
This ‘revolt’ is just the beginning. Class warfare is coming and unless there is some responsible, justice-driven actions by government, it is going to get worse.
I think it may be time to presume that those who bear the taint – bank executives and others – are guilty until proven innocent.
And it is time for the “business community” to act responsibly. They can start by not focusing upon quarterly profits and having realistic and sustainable profit models. Or they can be regulated out of existence.