J. Miller and Company Blog

January 4, 2009

The End of the Financial World as We Know It!

Michael Lewis and David Einhorn begin this piece “AMERICANS enter the New Year in a strange new role: financial lunatics.”  The article questions how a crisis of this magnitude could happen here – to the nation where “half the planet’s college graduates seemed to want nothing more out of life than a job on Wall Street”.

It can’t be explained purely by greed, they say:  “Greed was necessary but insufficient; in any case, we are as likely to eliminate greed from our national character as we are lust and envy.  The fixable problem isn’t the greed of the few  but the misaligned interests of the many.”

Read the rest of this long and deeply disturbing article:

http://www.nytimes.com/2009/01/04/opinion/04lewiseinhorn.html?scp=1&sq=January%204,%202009%20Michael%20Lewis&st=cse

Economics and politics , ,