"The crash has laid bare many unpleasant truths about the United States. One of the most alarming is that the finance industry has effectively captured our government", says Simon Johnson, a chief economist with the International Monetary Fund in 2007 and 2008. In an article entitled "The Quiet Coup" in the May, 2009 issue of the Atlantic magazine he (with James Kwak) goes on to say that "if the IMF's staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform and if we are to prevent a true depression, we're running out of time".
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They also provide a handy link by which to share their article (If you do email him Sinner it would be interesting to see his reply):Johnson's article is so frank, so insightful and so alarming it deserves the widest readership possible during these traumatic times and, as such, I have taken the liberty to edit and paraphrase in places his intriguing interpretation of what ails America's economic state and what needs to be done to alleviate the crisis.
Very interesting article, thanks for the post.
To follow on from TH's post, Sinner has used much less than 10% of the article and has linked to the original document as per ASF guidelines that Joe has set out and inline with Australian fair dealings. I'm not sure what the problem is TH.
Ahh, OK. My apologies.You didn't see the first post which has now been edited. Sinner just copied and pasted tho WHOLE friggin article....
My actions and justifications are clearly not meeting your standards here TH, I will just keep my mouth shut from now on.
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