Tom Brokaw: 'Greed and excess' led to Great Recession | McClatchy Washington Bureau

×
Sign In
Sign In
    • Customer Service
    • Mobile & Apps
    • Contact Us
    • Newsletters
    • Subscriber Services

    • All White House
    • Russia
    • All Congress
    • Budget
    • All Justice
    • Supreme Court
    • DOJ
    • Criminal Justice
    • All Elections
    • Campaigns
    • Midterms
    • The Influencer Series
    • All Policy
    • National Security
    • Guantanamo
    • Environment
    • Climate
    • Energy
    • Water Rights
    • Guns
    • Poverty
    • Health Care
    • Immigration
    • Trade
    • Civil Rights
    • Agriculture
    • Technology
    • Cybersecurity
    • All Nation & World
    • National
    • Regional
    • The East
    • The West
    • The Midwest
    • The South
    • World
    • Diplomacy
    • Latin America
    • Investigations
  • Podcasts
    • All Opinion
    • Political Cartoons

  • Our Newsrooms

You have viewed all your free articles this month

Subscribe

Or subscribe with your Google account and let Google manage your subscription.

Economy

Tom Brokaw: 'Greed and excess' led to Great Recession

Wayne Washington - The State (Columbia, S.C.)

December 13, 2011 07:21 AM

Retired NBC “Nightly News” anchor Tom Brokaw congratulated the nearly 2,700 students who picked up their degrees from the University of South Carolina Monday by challenging them to rely more on their humanity and less on emerging technology to meet today’s challenges.

“You’ll not solve global warming by hitting delete,” Brokaw told the graduates, who came from all parts of the USC system.

“You’ll not eliminate reckless avarice by hitting backspace. You’ll not make society more just by cutting and pasting. And you should not surrender the essence of the human experience to 146 characters on a Twitter or a Facebook, however seductive the temptation.”

Brokaw’s remarks underscored his long career as a chronicler of what one of his books referred to as America’s “Greatest Generation.” He was blunt in describing a culture of materialism and greed that led to the worst economic downturn since the Great Depression.

“Daily, there are painful reminders that the economic model that has defined your lives was a house of cards,” he said. “We did lose our way.

“We allowed greed and excess to become the twin pillars of too much of the financial culture.

“We became a society utterly absorbed in consumption and dismissive of moderation.”

Many of those graduating Monday said they are more interested in careers that would allow them to serve others than in lining their pockets.

Vance Benson, a 23-year-old who majored in business administration, played soccer at USC and plans to try out for a professional soccer team in Charlotte. If he doesn’t make it, he said he will look to join a Christian discipleship program in Montana.

Heather Stegall, a 22-year-old who majored in criminal justice, wants to find work in the legal profession, but she also wants a job that would accommodate her role as a military wife. Her husband, who is in the Army, is scheduled to graduate from USC in May.

Brokaw lauded military service and reminded the graduates that, while they were at USC, others were in war zones guarding American freedom, a comment that drew applause.

In his 1998 book “The Greatest Generation,” Brokaw described the sacrifices and triumphs of Americans who survived the Great Depression, won World War II and returned home to get an education and begin a family.

To read the complete article, visit www.thestate.com.

Read Next

Video media Created with Sketch.

Policy

Are Muslim-owned accounts being singled out by big banks ?

By Kevin G. Hall and

Rob Wile

December 17, 2018 07:00 AM

Despite outcry several years ago, U.S. banks are back in the spotlight as more Muslim customers say they’ve had accounts frozen and/or closed with no explanation given. Is it discrimination or bank prudence?

KEEP READING

MORE ECONOMY

National

The lights are back on, but after $3.2B will Puerto Rico’s grid survive another storm?

September 20, 2018 07:00 AM

Investigations

Title-pawn shops ‘keep poor people poor.’ Who’s protecting Georgians from debt traps?

September 20, 2018 12:05 PM

Agriculture

Citrus disease could kill California industry if Congress slows research, growers warn

September 11, 2018 03:01 AM

Politics & Government

The GOP’s new attack: Democrats wants to ‘end’ Medicare

September 07, 2018 05:00 AM

Economy

KS congressman: Farmers are ‘such great patriots’ they’ll ride out Trump trade woes

August 30, 2018 02:17 PM

Midterms

Democrats’ fall strategy: Stop talking Trump

August 24, 2018 05:00 AM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

McClatchy Washington Bureau App

View Newsletters

Subscriptions
  • Newsletters
Learn More
  • Customer Service
  • Securely Share News Tips
  • Contact Us
Advertising
  • Advertise With Us
Copyright
Privacy Policy
Terms of Service