Jack Bogle published "The Battle for the Soul of Capitalism" four years ago. The battle's over. The sequel should be titled: "Capitalism Died a Lost Soul." Worse, we've lost "America's Soul." And worldwide the consequences will be catastrophic.
This piece was published on Oct. 20; it's titled "'Death of Soul of Capitalism' Bogle, Faber, Moore." Look here. The unhappy truth is that most of our present problems are attributable to ugly and unfettered greed as practiced by a bunch of amoral greedheads in the financial sector of the American economy. Not denying the role of mindless acquisitiveness in the general public, but the heaviest guilt lies at the doorstep of the Wall Streeters, who are still grabbing it with both hands and glibly justifying their greed as a just reward for their great work. Someday the people of this country will snap to what's been done to them by the bankers and hedge-fund managers. I hope things get vengeful when they do snap.