Remnants of the cause of the Economic Collapse still alive and well on Wall Street
One of the most recognizable factors which attributed to the recent economic failure was the gambling on Wall Street by those who were suppose to be of a higher standard morally than many. This failure was more about speculation and the absence of regulation than anything else. This trend seems to be occurring again with a little help from our news media. It was reported by one reporter that America should prepare itself for high gas prices because of the approaching Irene even though an article by Selam Gebrekidan and David Sheapard of Reuters titled Irene cuts power, oil operations along East Coast reports that even though many energy producers were cutting back the “Trade group National Petrochemical and Refiners Association said on Friday the region's oil terminals held 23 days of gasoline supply and 46 days supply of diesel and heating oil.” While that may not sound like much too some, it is not cause for rising gas prices. What it appears to be more ab...