E-MAIL: trajectory1780@gmail.com

Sunday, December 7, 2008

Plenty of Blame

Via e-mail comes this.

Back in the 1929 Financial Crash, it was said that some Wall Street stockbrokers and bankers JUMPED from their office windows and committed suicide when they were confronted with the news of their firms' and clients' financial ruin. Many people were said to almost feel a little sorry for them . . .

In 2008 the attitude has changed somewhat:
There's no doubt that extremely poor decisions by the experts have played a major part in this mess. But let's not forget there's plenty of blame to spread around. There's poor management by the largest U.S. corporations, there's legislation requiring risky loans combined with poor government oversight, and don't forget the poor decisions to take on home loans that families just can't afford.

No comments: