Sunday, April 5, 2009

Economics: How the Banks Screwed Us

Lately, not even the finest cannabis has been able to shake the MJO staff's preoccupation with our nation's current economic crisis. With unemployment numbers swelling to 8.5% of the reporting populace nationwide and GDP actually contracting by 6.5% during the last four months of 2008, the best use for our marijuana has been to help us drift off to a comfortably numb stupor in the face of the severe harsh reality confronting us. However, one question that we return to daily after awakening from our forced unconsciousness is:

"What the f*ck happened?"

In particular, we are often curious about exactly how we got so screwed and also which responsible parties deserves our unmitigated scorn. Today it seems we got at least some answers during Bill Moyers' interview with William Black, a former regulator during the S&L banking scandal of the 1980s. Enjoy.





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