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The Editors | 09.22.08

Business

The Fleecing of America

Roger Cohen, New York Times [Read the Article]

Yes, greed fueled the crisis, but Cohen pinpoints what's unique about our penchant for financial manias: "...the U.S. economy is being socialized to the tune of $700 billion ($2,000 for every man, woman and child in the country) as a result of a giant mortgage-related Ponzi scheme... Let’s be clear: this is an American mess forged by the American genius for new-fangled financial instruments in an era where the mantra has been that government is dumb and the markets are smart and risk is non-existent."

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(1) COMMENT

By accountants leeds AT 01.06.10 07:47AM

accountants leeds

New York State is down over 4.3 billion dollars in tax acquirement as a aftereffect and that amount is alone accepting worse by the day. Remember, the present governor of New York (David Paterson) has been affianced in the accepted advanced tax and absorb mentality that has absorbed Washington and added democrat able holds in added cities back he aboriginal took over the accountants leeds.


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