Can we afford to disenfranchise swaths of the population, amputating them from well-being and a productive existence from which stem self-esteem and self-reliance? The key to what ails us is like the key to Hugo's automaton, one shaped like a heart.
There were a few rejections before I made it into the Salomon Brothers sales and trading training class. It happened to be the class of 1985, immortalized in Michael Lewis' book, Liar's Poker," and I recently came back from our 26-year reunion.
The silver lining in the ongoing crisis is that it challenges the world -- about the world being owned by few. Maybe we'll get it all out there for a healthy dialogue and movement for economic justice.
The ongoing financial saga is morphing into a financial thriller. Makes one wonder. Maybe the "silver lining" in this financial crisis is that the "dirty laundry is coming out in the wash" -- worldwide.
We've had financial bubbles before. This one's got a twist though. It's fraught with complexity, scope, depth, widespread fraud and bad underwriting practices making coming out of it, all the more difficult.
How was basic credit analysis so overlooked by sovereign governments, banks, institutions, individuals? Is it a Shakespearean-like pursuit of returns, wants, profit and power? Can we assume that economies could grow to keep up with debt?
Falsehood creates a convoluted mess, a sense of disorder. Hold that thought and think "cause and effect" -- the financial crisis largely created our fiscal crisis leading now to the US national debt ceiling problem.
When I was growing up there was shame. Shame is defined as, "a painful feeling of humiliation or distress caused by the consciousness of wrong or foolish behavior." But this feeling seems to have disappeared from the way we do business in this country.