One Can Only Hope 0
Why subsidize demonstrated incompetence when we can strive for mediocrity as a standard?
Darrell Delamaide at MarketWatch:
(snip)
In a new article in The Atlantic, (former IMF chief economist Simon–ed.) Johnson compares the plight in the U.S. to that in some emerging market economies that he dealt with first hand while at the IMF — a financial oligarchy pursuing its own selfish agenda has seized control of the government and blocked any effective reform. Unless the administration is willing to break up this financial oligarchy, it will fail in its effort to restore a healthy banking system, says Johnson, now a professor at MIT.
Read Mr. Johnson’s article here. The lead:
Of course, the U.S. is unique. And just as we have the world’s most advanced economy, military, and technology, we also have its most advanced oligarchy.
Afterthought:
The News Pundit explores the world of the zombie banks.
