You do realize that the process of financial deregulation started with Carter and was supported by '80's Democratic Congressional majorities and a subsequent Democratic President? This is not to say that the U of Chicago Economics Dept. that has parasitically attached itself to economic theory since Friedrich Hayek is not to blame, ultimately... yet Obama's chief economic advisers are from... you guessed it, the U of Chicago.
For many and various reasons, economists the world round have been predicting this since 2002 - the Fed response to the dot com bubble certainly inspired it.
I started reading resources like Counterpunch and Global research in the late '90's. Most here dismiss them as 'crank leftist sites'... hmm - prominent writers there [including the boogie man Nader] were predicting this and following this on every level for over a decade. I got turned on to people like David Korten through those sites.
But hey... it's great for the Dem partisans... they get their power and they get to deal with the mess - with the same advisers that created it.
I just wish the Dem power structure would get a fucking clue, but they're too busy plucking daisies from the fields given them by their benefactors.
I don't understand why people are so blinded by a sports metaphor that they are paralyzed in making legitimate demands of those that govern them... and are so quick to judge others who warned them for years about the consequences.
Tell me again why this became a 'partisan blog'? Because it wasn't, originally.