This article explains how the current crisis got started and what propelled it along - including the decimation of the "news" industry. Worth a read if you are a bit thin on American history of the 20th century and Parry is, of course, an excellent writers.
The points he is making are also relevent to the tax issues and corporate irresponsiblity in general as he traces the institutionalization of the neocons in the US' government life.
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