"The core problem over the past few decades was not bankers' greed or the complex financial instruments that enabled them to satisfy it. It was the immense pyramids of debt built up by the Anglo-Saxon half of the world, and the equally massive mountains of savings created in the other.
Almost everything that occurred in the past couple of years was, directly or indirectly, a consequence of this..."
to read Edmund Conway's article published inL The Guardian UK, September 2, 2009, click on
link to www.telegraph.co.uk