Great article with alarming implications about what got us into this mess: ‘this relationship between this credit and debt complex that really dominates our economy, regulating body and bodies that are not regulating, and a media that’s looking the other way.’ So greed was turned loose on the land. Even worse is that the people involved are ‘...kind of stuck in the shock mode and in the too big to bail and too big to fail.’ This implies that the amount of money involved and the immensity of this crisis could mean it cannot be managed. Neither candidate nor the media are addressing this crisis. New Yorker covers are far easier.

This is an excellent discussion of our economic, expecially the American finance system. They problem can be put into one word that word is greed.

Twenty years ago when I was covering the S&L crisis the same questions were asked... "where were the regulators," "where were the accountants?" The answer was -- the accountants were on the take and the regulators had been neutered by an anti-regulatory Republican administration. Sound familar?

This is a startling assessment of the causes of all the financial losses of homeowners and stockholders. It needs a continuing story on the success or hindering of the criminal prosecutions that seem necessary.

Schechter's upcoming book "Plunder: Investigating Our Economic Calamity and the Sub Crime Scandal" provides the byline for this interview. The massive white collar crimes of violating the mortgage qualification regulations and of failing to perform legally required oversight by the administration of the corrupt individuals and corporations doing the crime should lead to the many investigations and criminal prosecutions. This has been made more difficult by bush taking the FBI off of almost all white collar crime to go out and harass Arabs as potential terrorists. Both interviewees are informed and well spoken.