Sunday, September 28, 2014

Women Whistle Blowers And The Great Recession

egg implanting into the endometrium
A fertilized egg attaches to the endometrium.

Dear Ger,

I hope you and Betsy had a great time in Italy!

Any memorable anecdotes?


I think you'll be fascinated by today's "This American Life." 

If the title sounds boring, rest assured it is not.

Federal Reserve Bank Investigator Carmen Segarra Fired For Holding Banks Responsible

Admitting that life is a mixed bag, with pros and cons scattered at snaggle-tooth random, I am increasingly struck by the bleak outcomes that inevitably emerge from "toe-the-line, don't-rock-the-boat, let's-get-along incrementalism." 

Most of the time, cautious incrementalism "works" - more or less.

After all, tedium and stability are joined at the hip.

Even so, incrementalism cannot prevent The Big Disasters

Pressure builds and The System blows.

"Republican Rule And Economic Disaster: A Lockstep Relationship"

My working hypothesis is that cautious incrementalism causes these catastrophes. 

Or, perhaps it is more to the point that incrementalism fails to prevent catastrophe. 

In any event, it is an indispensable factor. A partner in the dance.

A good companion piece to "Carmen Segarra" is Frontline's "The Warning." It describes another woman, Brooksley Born, who sounded the alarm when The Great Recession was still an embryo.

In a tawdry escapade best described as financial thuggery,  "The Big Boys" -- Greenspan, Clinton, Rubin, Geithner, Summers -- jammed Born's tongue down her throat.

Soft core economic porn.

Here is the link to the Frontline documentary:

And here is the Frontline transcript:

Recently, I summarized my frustrations in a blog post entitled:

Finally! Wall Street Goes On Trial: Holding The 0.1% Responsible For The Shithole



PS If it was you who recently subscribed me to St. Anthony's Messenger, thanks! I've enjoyed the Messenger since Dad signed us up in childhood and am happy to be back in the loop.

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