What caused the financial implosion of 2008? I thought that regulatory capture
was fundamental. So financiers manipulated the regulatory agencies which should have been bubble-popping, and private risk was legally shifted onto ill-informed taxpayers.
speaks often of a generalizable analogy--of a person physically injured in an attack. While a decent societal response should involve the punishment of the attackers and the transfer of their assets, if any, to the victim, the ultimate success of the recovery depends greatly on the victim's attitude/effort/strategy for recovery. The OWS temptation--to dwell on the punishment of the financiers--feels
like it addresses our present woes, but in fact it is an abdication.