Most of it was not stolen. It was simply shaky deals eagerly snapped up by greedy and/or clueless people. Those tens of billions in bonuses that WS handed out only a year or so ago were perfectly legal.
Have you not noticed that as American manufacturing has declined relative to the rest of the world, plenty of pundits said, "Hey, no problem, us Americans are worldclass in managing money due to our superior free market ideologies, laws, and stable government, we will be the worlds financial masters, who cares if the startups we spawn are filled with Chinese or Indian engineers and workers, that just means cheaper toys for all of us?"
Well, gee, how did that work out? We're looking pretty good as the financial geniuses of the globe don't you think? And clearly our regulatory framework must be the best around, how else could we achieve such stellar results?
I suspect the rest of the world is very well clued in now, and the only thing propping us up is all the debt we've spread around that they kind of don't want to lose, so might as well keep doling more drugs to the addict while casting about for what us to employ Chinaman at. I don't think they are saying, "Lets just watch America go down the drain". Things are to interconnected for that. Not that they have great options either BTW. |
