"So, what is going on? How did we get into this mess, and how will we get out? It is clear to any detached observer that the travails on Wall Street are not simply a superficial kink in the circulation of the nation’s money supply. There are deep-seated problems here that will impede growth, and accelerate business failures and job losses if not objectively identified and forcefully addressed. While we have recklessly disregarded the need for prudent supervision of our banking and financial systems, the real problem is even deeper. For eight years we have papered over the fact that American consumers do not have the purchasing power to sustain economic expansion."