"... The Crime of Our Time is his latest attempt to explain "the financial collapse as a crime story (and) the high status white-collar crooks" who wreak havoc on "the lives of hundreds of millions worldwide." He quotes from author and labor activist Jonathan Tasini in his new book, The Audacity of Greed, saying:
"Over the past quarter century, we have lived through the greatest looting of wealth in human history." While an elite few profited hugely, "the vast majority of citizens have lived through a period of falling wages, disappearing pensions, and dwindling bank accounts, all of which led to the personal debt crisis that lies at the root of the current financial meltdown."
The fallout cost millions of Americans their jobs, homes, savings, and futures, the result of a Washington - Wall Street criminal cabal and their scandalous conspiracy against the US public. In the Crime of Our Time, Schechter, once again, does a superb job explaining it astutely, thoroughly, and clearly.
Introduction - Our Time and Financial Crime
(1) In Wall Street We Trust
Once again, the major media betrayed the public by cheerleading the inflating market bubbles, ignoring the cause and Wall Street/Washington's role, then downplaying the severity of the crisis that has a long way to run. Instead their reasoning goes: "we are all to blame, guilty of greed, over-spending and under-saving," so "when everyone's at fault, no one can be held responsible."
Yet capitalism's internal contradictions make it crisis-prone, unstable, ungovernable, and self-destructive because of its repeated cycles of booms creating bubbles, creating busts, then depressions, and inevitably decay and demise. ..."
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