Friday, December 05, 2008

if can't take the blame, then don't deserve the credit

M. Yglesias speaks wisely.

One we realize that that’s not the case, that there’s no “magic” at work in the financial field and people are just mucking around I think that has quite radical implications. If nothing the CEOs and top fund managers are doing makes them worthy of taking the blame when the crash hits, then they also don’t deserve nearly the share of the credit — and money — that they got while things were going up.
Bada bing!

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