"The transition from a long-term to a short-term orientation went along with the exaggerated profit goals. The approach of shareholder value sets maximum profits and dividends in the center of business policy and no longer long-term investments and the interests of employees..
The crisis of home-builders followed the crisis of the banks that didn't receive back their awarded funds..
Speculation without a real economic basis was a special characteristic of this crash..
Beside the deregulation of international capital transactions, the increasing uncoupling of worldwide financial assets from the world social product is another malformation on the financial markets..
The financial markets drive or dominate the real economy. The profits in the financial sector are higher than those in the real economy. Structural under-investment in the real economy occurs since money often flows into the financial sector..
Politics must finally close the global financial casino.."
to read "The Banking and Financial Crisis" by Andreas Willnow and the Rosa Luxemburg foundation published August 2010, click on
http://dc.indymedia.org/newswire/display/149873/index.php