Monday, March 30, 2009

It would be nice if America's overlords could read

From a Rolling Stone article on the banking boondoggle financial fiasco:

KEN LEWIS:WORST MOVE Failed to catch a $15 billion loss at Merrill before buying the firm; needed $20 billion bailout to close deal.
NOW SAYS It's a false "claim" to say "the banks that caused this mess must be held accountable."

Minor detail, missing a $15 billion loss. Perhaps Lewis is color blind and couldn't tell the difference between red and black, or perhaps he is functionally illiterate and can't tell the difference between the word debit and credit.

It's always edifying to find simpatico soul mates online, in opposition to the official MSM groupthink which would make one feel completely alienated & alone:

If you buy this argument, it seems like you would have to agree with the strong anti-trust arguments of the past. I am not ready to do this. Big is not necessarily better or worse, but a "too big to fail" policy does keep the marketplace from eliminating failed policies.

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