Democrats in Congress are headed for a historic and well-earned rout this November. Progressive Democrats in House and Senate should be cutting themselves loose as soon as possible from this sinking ship and following the lead of Vermont's independent Sen. Bernie Sanders. They have a historic opportunity to send the corporatist Democrats off to their well-deserved demise, while forging the Congressional core of something new: a true progressive opposition party representing America's working people.

David Swanson is the author of "Daybreak. Undoing the Imperial Presidency and Forming a Perfect Union" Mr. Swanson describes how he believes the nation was "hijacked by the Bush administration" and the work he says the public must do now to repair the damage. The BookTV event is in Coral Gables, Florida. Mr. Swanson is the creator of ProsecuteBushCheney.org and AfterDowningStreet.org. He is also former press secretary for Dennis Kucinich's 2004 presidential campaign. "People fought against slavery their whole lives.. Solidarity is good for your health.
We don't have a moral choice. If civilization should go down, we should go down fighting.. The right-wing is outrageously over-represented on TV…" to hear David Swanson on CSpan's BookTV January 10, 2010, click on

James Crotty, professor at UMass Amherst.
The creation of speculative bubbles creates false values, which lead to huge bonuses. The financial crisis was triggered by falling housing prices. The crisis was met with government bailouts but the "moral hazard" was not countered.

The level of debt is the disease. The wage-productivity gap is the cause and the financial crisis is the symptom. Wages and productivity grew together until the 1970s when credits replacxed rising wages. (http://www.capitalismhitsthefan.com) Hyman Minsky spoke of "euphoric expectations" leading to debt-induced recession. Neoclassical theory relies on a "multiplier effect," Bernanke's "quantitative easing." Giving to banks is said to be 10 days more "productive" than giving to debtors. Giving to debtors is dynamic thinking. Ponzi thinking is in the saddle again. Neoclassical theory fails to account for credit money created one month before base money. In this model, loans create deposits, not the other way around. 80% of TARP money went into speculation on the stock markets instead of reviving the economy. to watch and hear Steven Keen, professor of economics at the University of Western Sydney, speaking on November 16, 2009, click on

The first lesson is that markets are not self-correcting. Indeed, without adequate regulation, they are prone to excess. In 2009, we again saw why Adam Smith's invisible hand often appeared invisible: it is not there. The bankers' pursuit of self-interest (greed) did not lead to the well-being of society; it did not even serve their shareholders and bondholders well. It certainly did not serve homeowners who are losing their homes, workers who have lost their jobs, retirees who have seen their retirement funds vanish, or taxpayers who paid hundreds of billions of dollars to bail out the banks.

The new economics foundation is an independent think-and-do tank that inspires and demonstrates real edconomic well-being. We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environmental and social issues. We work in partnership and put people and the planet first.

The shadow banking system without regulations coupled with the mother of all bubbles in real estate made the 2008-2009 crisis worse than the 1929-1930 collapse.

Andrew Cockburn, producer of American Casino pt.2 "From Greenspan's Faulty Ideology to Today," talks about the subprime crash.
"Greenspan had responsibility to avoid crisis and implosion. (Rep Henry Gonzales) There is a flaw in the model, the ideology, the self-healing market.
The focus should not be on maintaining behemoth corporations that became insolvent, companies that should never have become so big…"
to watch "American Casino," click on
www.americancasinothemovie.com