Why no outrage?

[moonwick]

From The WSJ: Why No Outrage?

Through history, outrageous financial behavior has been met with outrage. But today Wall Street's damaging recklessness has been met with near-silence, from a too-tolerant populace, argues James Grant

Amen.

Comments

[paradox0220]

I hate to say it but I think the country has been dumbed down too far to grasp a lot of these concepts. Some would say they are dumbed down by media/culture/whatever others would say it is a purposeful tactic of those who benefit most from the status quo. I think it is somewhere in the middle (especially since those that benefit also happen to own a lot of the media).

I'd love to see a poll asking random people if the bank has the cash sitting in their vault somewhere to cover the loans the bank gives out. I bet >80% would say yes.