Wednesday, February 04, 2009
Already Made Off
Glen Ford at Black Agenda Report looks at the futility of the investment bank bailout within the context of the pervasive fraud created by these same institutions. Having financed the private equity leveraged buyouts of corporations that foreclosed any hope of sustainable productivity, the bailout accomplishes nothing but to gild severance packages while the hollowed out economy lays in ruins. The aristocracy and otherwise ultra-rich who used these banks to pillage real assets have already made off with the goods.
