Monday, March 28, 2011

Financial System Continues to Erode the U.S. Economy


Since the country's policymakers haven't learned much of anything from the most recent financial collapse - no, switch that...those who did learn simply couldn't get the now-standard 60 votes in the Senate to vote for a strong package of reforms - the U.S. financial system continues to erode America's competitive position.  While the rest of the economy limps along, financial services industries, which add relatively little of value, jumped back to obscene profitability rather quickly after taxpayers bailed them out.