Particularly during the Reagan and the Bush years though Clinton was not completely inculpable, financiers did not care for these controls and regulations of principals, thus, they exploded leverage in order to inflate the interest takeover where profits are harbored. When domestic investors were no longer satisfied with Government Securities and stodgy corporate holdings—as China, Japan and Saudi Arabia are today—they jumped for the over inflated bubbles blown by an irrational housing market, under capitalized entrepreneurs of frivolity and retailers of "not made in the USA" while proliferating cheap labor.
Then a funny[?] thing happened on the way to Wall Street, consumers finally realized that decreasing wages could no longer sustain the giant interest payment continuum which grew to a massive black hole, sucking in the wage earner and leverage lechers alike.
Copyright © 2008 Richard R. Kennedy All rights reserved. Revised: Oct.16, 2008.
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