The clever ones in the ruling elites still don't want to face it: what caused the financial turmoils and recession that the whole world is suffering is not one single factor or any particular regulatory failure. It is the failure of decent human civilization that has caused the global pain and suffering that we are having today. Everyone is to blame!
When man invented money, man did not aim to create a debased culture by keeping everyone in gambling, speculation, over-leveraging, spending in excess of your means, running risky investments, carry trades, short-selling, etc. But what man had done in the last few decades was to turn our civilization into a "casino culture" - a degenerated human condition under which man could no longer make a honest living but could only choose to gamble by betting money on money, creating magical figures out of monetary manipulations, inflating asset prices, devaluing money and human being's hard work, etc. It is this evil culture that the devils in Wall Street have been establishing that is sending the whole world into ruin.
When the world falls, it will be silly to put on the blame on this and that! The failure must be the collective responsibilities of human beings!
What our great Premier Wen has said recently is of utmost importance to the development of human civilization and history. Humanity must correct its way of spending, its over-speculation or leveraging and its unreal creation of credit paper wealth without genuine substance!
Open your eyes and go back to the basics of human civilization. Don't avoid facing the real root of the evils by shifting the focus to one single problem like regulatory failure over banks, etc. Banks have no meaning at all; it is the human beings that control and operate the banks that matters! Ultimately humanity must revamp its corrupted system of culture and values and purge the devils in Wall Street and their friends to find a way to heaven again.
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