Bloomberg.com: Opinion: A Wall Street Trader Draws Some Subprime Lessons: Michael Lewis
How's this for a pithy lead:
Sept. 5 (Bloomberg) -- So right after the Bear Stearns funds blew up, I had a thought: This is what happens when you lend money to poor people.
1 comment:
Well, Michael Lewis has apparently just been appointed CAO (Chief Apology Officer) for the financial sector. I get a kick out these "free market global economy" types. Let's see, I guess you have to blame the dot.com bust on the poor. I mean just look at how they manipulated hard working people like Jack Grubman. The fact he and all his cohorts lied through their teeth for years is ok, I mean "caveat emptor" right Michael? And then of course there was the incredible anti-business, anti-entrepreneur, anti-free trade, anti global economy, anti rich guy Savings And Loan Scandal perpetrated by the poor. I knew right then and there that the rich didn't stand a chance. That's why I feel sorry for them. I mean George Bush made up for some of what they have been through by cutting their taxes, but really to have justice I think it may be time for another government bailout. What do you think? What an asshole ...
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