09
Jan
12

What Went Wrong in 2008 On Wall Street

“…capitalism has been hijacked, and I’m infuriated. For capitalism to work, people who assume risk should reap the rewards of success, but they also must suffer when losses occur.” ~Leland H. Faust

In the 2008 implosion, the banks that were bailed out should have been left to go under – their assets stripped and sold, their officers indicted for fraud or driven out into the street, their profits disgorged, they and their children made outcasts, leaving them in the outer darkness,wailing and gnashing their teeth.

This, after all, is the basic moral logic of capitalism – success is rewarded, failure mercilessly punished. And this is EXACTLY what the politicians prevented from happening – all of them, except Ron Paul, who warned about it, and tried to stop it.


0 Responses to “What Went Wrong in 2008 On Wall Street”


  1. No Comments

Leave a Reply