We might start calling the original crisis of last July the Schumer Bank Panic. See Jerry Boyer's Article from last summer on how Chuck Schumer sent a threatening public email to a California bank which also received a threatening letter--on the same week-- from an ACORN related group, theirs regarding the bank's supposed heartlessness toward minority home buyers.
Because the Schumer letter was public, there was a run on the bank, starting the panic that led to a series of national troubles some of us hope we can emerge from someday.
However, we can't blame Senator Schumer for the bi-partisan underlying causes, although come to think of it, he was guilty there too.
This deeper cause might be best understood as neo-consumerism.
What is that? The right to a house, the right to health care, the right to a college education are monsters morphing into bubbles and subsequent crashes, a sense of entitlement that knows nothing of hard work and living within your means. We need to return to the stability of the old-school virtues.
