“Our moral collapse is as terrifying, and as dangerous, as our economic collapse,” Chris Hedges writes in his weekly column at TruthDig. The financial elite, driven by greed and profit, has for decades defined success in terms of wealth and acquiring more this year than last. But the moral crisis, Hedges argues, has made it very difficult for those at the top–many of whom were involved in the de-regulation of financial markets–to come up with a new way forward without simply recycling failed ideas.

And, according to Hedges, Obama doesn’t have much time left. If he continues to listen to Geithner, Summers et al. his presidency may be doomed.

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