The Enronning of America the World
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David Calloway of MarketWatch points out how financial venality has become financial normality. A nugget:
For the past 30 years, however, financial services has been the place to be. And the focus on making money has turned into a worldwide industry, with several million full-time occupants. It’s spawned the growth of the financial media industry, with companies such as MarketWatch, Bloomberg, TheStreet.com writing about Italian bond yields with the drama that our predecessors used to write about rock concerts. And it’s brought the world together in innumerable ways that both benefit, or as we’ve seen, destroy.
Read the whole thing.
