Wednesday, March 11, 2009

It's a weird time when...

... a major US newspaper talks about mainstream financiers as looters:

http://www.nytimes.com/2009/03/11/business/economy/11leonhardt.html

Some excerpts:
In effect, the bankers had siphoned off this bailout money in advance, years before the government had spent it.

Either way, the bottom line is the same: given an incentive to loot, Wall Street did so.

If we don’t get rid of the incentive to loot, the only question is what form the next round of looting will take.

2 comments:

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