Financial crisis has world teetering on the brink – welcome to the new normal

[CHIMO]

Welcome to the new normal. Billions of pounds were wiped off the value of shares in London on Tuesday 4 October. Dexia, a bank jointly owned by the French and the Belgians, teetered on the brink of collapse. One of the main barometers of Wall Street sentiment slid into bear-market territory. An emergency press conference called by Greece's finance minister was delayed because the building was being picketed by civil servants.

Will the euro survive? Will there be a second banking meltdown? Is the world facing a decade or two of sluggish growth to match the Great Depression of 1873-1896, as some historians believe. Nobody really knows. Which is why the new normal is not really normal at all.
http://www.guardian.co.uk/business/2011/oct/04/financial-crisis-welcome-to-new-normal

[txlibdem]

1. Solution: Nationalize the banks and stock market, outlaw hedge funds

Impose a tax on all stock transactions and break apart any entity that is "too big to fail."

Jail the crooks who caused the economic meltdown and each subsequent downturn. Outlaw day trading and any trade that seeks to profit off of a company decreasing in value.

Remove the profit from artificially created boom and bust cycles and jail the perpetrators.

That would be a nice start.