Website review: Banks Shirk Subprime Responsibility...
Cookietrain discovered this in Investing
•3 reviews since Mar 18, 2008
investing
•portfolio.com/views/columns/wall-street/2008/...
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Reviews of this website
Cookietrain discovered 4 months ago- "The guys on Wall Street claim they believe in free markets and are entitled to enormous compensation because of their risk taking. But when they lose, do they say to themselves, 'I'm going to take my losses'? No, they go running to Uncle Ben"--Ben Bernanke, the Federal Reserve chairman--"and he, in a grotesquely irresponsible move, bails them out."
- km rated 4 months ago
- From the page: "Lose billions of dollars as a result of bad loans? Get a bigger bonus. Negotiate a dumb mortgage for that house you can't afford? Get bailed out by the Fed. These are heady days in the No-Consequences Economy."
- Maxismax rated 4 months ago
- From the page: "Full responsibility is one thing. Consequences are another. We have reached escape velocity and launched into the No-Consequences Economy. To pause for a moment of overgeneralization: America used to be about exceptionalism and optimism, a place where anybody could try anything and make it work. Across the business and political spectrum, it's now about entitlement, where everyone deserves a shot but no one gets blamed for screwing it up."
