Nicholas von Hoffman, a veteran newspaper, radio and TV reporter and columnist, is the author, most recently, of Radical: A Portrait of Saul Alinsky, due out this month from Nation Books.
After all the help that’s been given to banks or extorted from the public, we have the feeling financial institutions are not doing much with the money.
If unemployment keeps rising and people with jobs stop spending, the atmospherics are right for a typhoon of misery on a scale of what Americans suffered in the early 1930s.
America’s largest financial institutions are insolvent. It’s time to face the truth and take the painful actions that will allow the economy to recover.
A lot of angry people in America are lusting to bring Wall Street geniuses who engineered the financial collapse to justice. And they just might succeed.