"This is widely recognized as a transformative moment in the history of the USA and, perhaps, the world. The neo-liberal model – which views greed as good and wealth as a reward for virtue; which believes that markets possess infinite wisdom and regulation and unions can only detract, and which discredits every objection to rising inequality and upward redistribution of income as an unwarranted assault on the class that creates prosperity – has, for all intents and purposes, imploded. It clearly is no longer viable. How else to explain Treasury Secretary Henry Paulson’s nationalization in all but name of the insurance giant AIG? The admission by former Fed Chair Alan Greenspan that he was wrong to believe financial markets would self-regulate?"

–Eileen Appelbaum, TruthOut, Dec. 14, 2008