Becoming a Banana Republic | by ARGeezer on Mar 30th, 2009 |

Simon Johnson appeared on MSNBC Monday with David Schuster.  There he said that this financial crisis has the potential to be worse than the Great Depression that we are running out of time to deal effectively to prevent such an outcome and that a solution requires some form of nationalization of the big banks and breaking up the financial oligarchy that now controls US politics.  The most difficult task in his opinion will be breaking the power of the oligarchy.  I am very glad to see this said in the national electronic media.  The interview referenced an article in the May Atlantic Monthly:

The Quiet Coup

You may want to read the entire article, but excerpts are posted below the fold.