We have been in the midst of a serious financial crisis for years, but because we defer all the pain and protect the guilty, we accumulate and compound it. Instead of the distributed power of the free market and the discipline it enforces, we have chosen the concentrated power, and selective reward and enforcement, of government action. The powerful are protecting the powerful at the expense of the folks who don't have the time or money to lobby and buy protection. That is the way socialism works. I pray we remember how we got here when the wheels come off this cart.
World on course for next crisis, warns Gordon Brown - Telegraph: www.telegraph.co.uk/finance/financialcrisis/851728....html
http://chum.ly/n/8f3b3c
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