"The wealthy, not only by private fraud but also by common laws, do every day pluck and snatch away from the people some part of their daily living. Therefore, when I consider and weigh in my mind these commonwealths which nowadays do flourish, I perceive nothing but a certain conspiracy of rich men in procuring their own commodities under the name and authority of the commonwealth.
They invent and devise all means and crafts, first how to keep safely without fear of losing that which they have unjustly gathered together, and next how to hire and abuse the work and labor of the people for as little money and effort as possible."
Thomas More, Utopia
Thursday, February 07, 2008
Dean Baker and Loans Made for Walking
Economist Dean Baker made some rather interesting points the other day regarding the sub-prime crisis as well as the related mess in the upscale prime market in an essay which appeared on Truth Out. No matter how hard I try, however, I can't seem to work up any tears over the looming prospect of banks left holding the bag.