The Really: The nexus of the Wall Street-Washington crisis is not one of liquidity or credit or mortgages: it is one of class.
But it is class defined not by ancestry or education or geography but as defined by wealth. The haves and have-nots are no longer easily pigeon-holed as one ethnic group or color when a generation which suffers no discrimination, has jobs, works hard and pays taxes can be just as impoverished in terms of healthcare, economic future and in many communities food and heat.
But it is class defined not by ancestry or education or geography but as defined by wealth. The haves and have-nots are no longer easily pigeon-holed as one ethnic group or color when a generation which suffers no discrimination, has jobs, works hard and pays taxes can be just as impoverished in terms of healthcare, economic future and in many communities food and heat.
It didn't happen this week. It has been going on for a decade. The Grant administration, or if you would rather, the Bush administration, has been a happy feeding trough for the slick, the fast, the too smart for their own good.
The fall-out from the failure to pass the Emergency Economic Stabilization Act of 2008 will likely result in movement towards the next step the have-nots have always taken when they realize they are own their own and have no confidence in the institutions that have failed them. The run on the bank.
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