A commenter left this link to Terri Gross’s interview with Michael Greenberger. It really could get very bad relative to what it already is. When you have 38 minutes, listen and learn about the shadow economy that threatens to completely ruin our economy (and everyone else’s.)
Greenberger insists he is not a pessimist about the economy; he says that “intelligent leaders” — coupled with government aid, transparency and regulation — can enable the American economy to transcend its current troubles. But he has harsh words for the companies that were engaging in questionable practices — and for the government that turned a blind eye to the potential consequences.
And, it seems to me, he is very clear about who is to blame – the Republican Congress in 2000.