The Obama Financial Reforms: Road to Change or Perdition?
Stabilizing A Flawed System is Not The Same As Restructuring Or Remaking It


by Danny Schechter
Global Research, June 19, 2009



A recent study cited by the Editor of the Financial Times argues that we are now in a Depression although no one wants to use the term or face the music.



Recall that it took the National Bureau of Economic Research a full year to recognize the reality of a recession that analysts at investment banks had been acknowledging for as long. Despite everything that has happened, and is continuing to occur on the economic front---a rise in unemployment claims, mounting foreclosures, and escalating bankruptcies—the sense of crisis is being downplayed to stoke confidence and encourage the belief in “green shootsâ€