LATE BREAKING: Fannie, Freddie Downgraded by Derivatives Traders Over Capital

In a column I wrote for The Ecologist magazine in London a few years ago I posited that the financial "environment" was as precariously pitched on the edge of an economic abyss as any of the ecological disasters such as climate change, fishing stock depletion and deforestation.

The globe's financial markets were emitting toxic waste in the...