Because I appreciate the benefits of Capitalism, I've studied its advances, and now its decline. It's clear to me that greed and excess are contributing to its swift downfall.

About 7 years ago (2002), after the Enron and related fiascos, I wrote 3 columns: 1. Crony Capitalism; 2. Creeping Criminality; and 3. Lure of the Lifestyle. Read them - weblinks below.

The Enron scandal generated regulatory moves. But apparently, not enough. Less than a decade later came the collapse of Lehman, Fannie Mae, Freddie Mac, AIG, and - well, you know the story.

This time, many companies were declared "too big to fail" and the government provided a cash stimulus - a trillion dollars. Where did the money come from? Credit, from future taxpayers.

Congress objected, but then succumbed to pressure by Treasury Secretary Hank Paulson, formerly CEO of Goldman Sachs. The Congressional Budget Office admitted blankly that they really didn't know where the money went. This was Crony Capitalism at its worst.

The banks quickly raised overdraft charges and other fees, returning to profitability and boosting reserves by billions. Again, they give big bonuses for key executives. Congress stands by, impotent.

The phone-log of Treasury Secretary Tim Geithner shows that almost 50% of his phone calls are with Goldman Sachs and cronies on Wall Street. This is Crony Capitalism at work.

Today, the Fed Chairman has pronounced that the "recession" is over, trying to induce consumers to start consuming again. Do you really think the "stimulus" solved the intrinsic problems? Of course not; it merely hid the effects and prolonged the decline.

I've talked with friends at many of the big banks and financial giants. No one denies that "fudging" takes place. They explain it as "gamesmanship" against regulations. Ethics is defined as "Whatever's legal". They all agree that many corporate leaders and politicians are corrupt.

Greed, lying, cheating, bribing and stealing have becomes legalized, with Congress itself as the prime example. Can you refute that? If you cannot, then how can you condone it?

The core concept of Capitalism is "free enterprise" - we can all be rich, if we work hard and are "smart". If you're poor, you're assumed to be too lazy, or too stupid, to know better. Under that "system", the rich are getting richer and richer by controlling wealth and manipulating the media. It's estimated that 1% of Americans now have more wealth than 95% combined. Do YOU think that's fair?

Meanwhile, America's middle-class keeps sliding into depression, with more and more joblessness and foreclosures. US unemployment has climbed to 10%, with several states well over 15%. Nearly 47 million Americans or 20% of the population under the age of 65, remain without health insurance. We keep talking about the American Dream. This is becoming the American nightmare!

How long can the corruption of Crony Capitalism survive? What will trigger its demise? What are the solutions?

I have pointed out that "Distributed Capitalism" is emerging as a winner - employee-ownership, profit-sharing. Big bonuses must be subject to public scrutiny. Increased regulations must limit loopholes. Greed and corruption must be publicly exposed.

I welcome your opinions and ideas.