Saturday, October 17, 2009

Ransacking America

October 17, 2009
Bailout Helps Fuel a New Era of Wall Street Wealth
"Even as the economy continues to struggle, much of Wall Street is minting money — and looking forward again to hefty bonuses..."

SIMON JOHNSON of Baseline Scenario:
"The US increasingly displays characteristics that we have seen many times in middle-income “emerging markets” – new dimensions of vast inequality, forms of financial instability that benefit the best connected, and consistently easy credit for the privileged. But this raises the question: who exactly is going to dominate our economic and political landscape moving forward?"

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