Dear Friends and Family,
Warning: personal pet peeves coming out here
In the continual skirmish between bankers and consultants, I've always sided with the consultants. With their out-sized egos and their arrogance, bankers have always struck me as a sorry lot of people with no sense of reality.
And, in the current mess, my firm belief is they're getting what they deserve. In fact, they're getting more than they deserve. They're the first to pull the plug on any under-performing company in the name of capitalism. Well, let their own under-performers get weeded out!
Yesterday's market reaction especially ticked me off. Didn't get the bailout plan you wanted? Why not throw a tantrum and send the markets into free fall? I feel like they're trying to hold the American people hostage - clean up the mess we made or we'll refuse to let the economy recover and we'll continue to send stock prices spiraling.
Well, in my naivete, I'm all for letting them throw their tantrum. What's the worst they can do? Let unemployment go up. Let the stock market crash. Sooner or later, it will all self-correct. There's pain involved in it. But, I only have so much pity for the credit drunk consumer looking to absolve themselves of all guilt in the name of ignorance.
What a total sham.
Cheers!
mouse
Warning: personal pet peeves coming out here
In the continual skirmish between bankers and consultants, I've always sided with the consultants. With their out-sized egos and their arrogance, bankers have always struck me as a sorry lot of people with no sense of reality.
And, in the current mess, my firm belief is they're getting what they deserve. In fact, they're getting more than they deserve. They're the first to pull the plug on any under-performing company in the name of capitalism. Well, let their own under-performers get weeded out!
Yesterday's market reaction especially ticked me off. Didn't get the bailout plan you wanted? Why not throw a tantrum and send the markets into free fall? I feel like they're trying to hold the American people hostage - clean up the mess we made or we'll refuse to let the economy recover and we'll continue to send stock prices spiraling.
Well, in my naivete, I'm all for letting them throw their tantrum. What's the worst they can do? Let unemployment go up. Let the stock market crash. Sooner or later, it will all self-correct. There's pain involved in it. But, I only have so much pity for the credit drunk consumer looking to absolve themselves of all guilt in the name of ignorance.
What a total sham.
Cheers!
mouse
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