Economic doom

"Even as many Americans still struggle to recover from the country's worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators."

"The report warns that the country is now immersed in a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government." ... "Risk-taking at banks," the report cautions, "will soon be larger than ever."

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No, they learnt nothing - the bankers I mean ; and they never will as long as government does not impose some fierce regulatory measures !

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