It was neo-liberal policies that created this mess and it will take progressive policies to fix it. There are several reasons why we have not seen progressive policies from Democrats: 1) They are owned by Wall Street and 2) Such policies require a shared sacrifice (which has been absent for quite some time) or the financial oligarchy to experience some pain. We have seen nothing but policies that support the financial sector. That will have to change if we are to move forward.
The mortgage crisis that triggered our economic crisis or Great Recession was created by a lack of regulation and increased financialization. But we have failed to address the underlying problems of the mortgage crisis. In fact, most programs intended to address the mortgage crisis have failed miserably.
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