Will Recession Change America?

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  S.Howard-Sarin

  04/06/09 | Report as spam

  RE: Will Recession Change America?

  I don't see much in the way of personal social values being
  reinforced by this recession -- compared to the Great
  Depression. While thrift has made a big comeback, it all seems
  focused on the small things.
  
  However, I look at the collective howls of outrage over
  bailouts and pay-outs as an indication that the social
  contract between public and private is shifting significantly.
  (My mind goes to healthcare, but that's a comment for
  another day.)
  
  Friends and relatives in the banking industry are still mostly
  oblivious to the change. Some realize that they've had the
  game going too good for too long, and the rubes figured out.
  But most don't, and I think they will be amazed when the
  anger doesn't wear out, the bonuses don't come back, and
  their industry shrinks without even alligator tears from the
  "real economy."