Quote of the Day
It’s easy to forget this amidst all the political excitement surrounding the bailout, but the greed and irresponsibility of Wall Street is going to ensure that many people who worked their whole lives to build up sufficient savings lose everything. Seniors living off investments and near-retirees will be particularly hard hit, and they will have done nothing to deserve it. Meanwhile, those who caused the crisis will still be rich, and most of them will still have their jobs. That we’ve not seen mass resignations on Wall Street is fair evidence of how sick and self-absorbed and irresponsible our financial culture has become. Hell, in another age or country, some trader or another would have had the decency to jump out a window by now.
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