Subprime Is Really SubCRIME: America's Deeper Financial Crisis

[rumpel]

By Danny Schechter, AlterNet. Posted February 21, 2008.

Policy proposals are not enough to save the economy. Candidates, take note.

At long last, the Democrats are talking about the economy and the need for serious relief and reforms. The reason is simple. The people are feeling the squeeze.

Reports the Baltimore Sun:

"Since January alone, the public's perception about the state of the economy has plummeted -- with just 17 percent calling the nation's economy excellent or good -- down from 26 percent last month. The percentage rating the economy poor has grown from 28 to 45 percent."

Hillary Clinton and Barack Obama now have their instant 10-point plans and programs. They have dipped into John Edwards' tool chest for ideas on fighting poverty and listened to policy advisors who have come up with a laundry list of proposals for stop-gap measures from hikes in the minimum wage and middle-class tax cuts. All of these proposals will take time to implement and probably will be forgotten by the time one of them becomes president, if they do.

Meanwhile the economy is collapsing because of crimes and irresponsibility on Wall Street, and no one is really talking about that. An inequality gap and structural crisis compounded by profiteering in high places goes on and is largely ignored.

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