Monday 17 March 2008

Greed Is A Weapon of Mass Destruction

For the last couple of weeks, I've been trying to put together a post that sums up what I feel about the current messed up financial system that we have landed ourselves with.

Luckily, Will Hutton in yesterdays Observer, did the job for me in an excellent piece called A deluded Wall Street threatens the world economy.

In it, he dissects exactly what has gone wrong and asks if it right that a company such as Bear Steins can have $11.8 billion of assets and $395 billion of debts and wonders how many more banks will go under before the situation remedies itself.

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