The Great Recession exposed deep systemic weaknesses in our economy: A bloated and reckless financial system; unsustainable trade deficits and a hollowed out manufacturing sector; extreme inequality and a declining middle class, a growing public investment deficit in areas vital to our future.
Ireland's problem was certainly not out of control government spending; it was a reckless banking system that fueled an enormous housing bubble.
Couple that with the embarrassing disclosures that are bound to come out of the congressional public hearings into the causes of the banking crisis, and there is every chance that "the change president" will spend the next few months under pressure to show exactly what changes he has made to a greedy and reckless banking system.
A reckless financial system crashed our economy leaving millions without jobs, without homes, and without hope.
The collection of soft money, of course, is at the center of the reckless fund-raising system that has led to excesses like the White House sleepovers.
SAVING the nation's financial system from reckless banks and brokerage firms is an enormous job, heaven knows.
If we are going to reward those who gambled and succeeded, but punish those who gambled and lost, we are supporting the whole system of reckless banking".
Americans use the term to describe something similar: a system where reckless students throw wild parties, binge on vodka and really annoy their neighbours.Like actual Greeks, members of college fraternities and sororities have had a miserable year.
In response to one U.S. trustee's suit in Ohio, Judge Marilyn Shea-Stonum ruled in May (PDF) that Countrywide had charged fees with "no factual basis" and wrote: "Countrywide's system is reckless.
But the unaccountable, reckless, and deeply rooted political system in Russia today — a system that can trace itself back past the days of the tsars, to the tatars, to the Mongols — is not a good one, especially not for subjects who console themselves with conspiracy theories, or the hope of a benevolent whim, or, as the nurse said, luck.
