Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
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Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#2[deleted]
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#3There's a bit of irony in the CEO of an advertising company complaining that people overspent their means. A man who profited from promoting consumption thinks there was too much consumption.
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#4There's a bit of irony in the CEO of an advertising company complaining that people overspent their means. A man who profited from promoting consumption thinks there was too much consumption.
Please grind that axe elsewhere
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#5There's a bit of irony in the CEO of an advertising company complaining that people overspent their means. A man who profited from promoting consumption thinks there was too much consumption.
Wait, if we're going to play the blame game with your rules - don't we also have to blame every single company that sells or manufactures consumer goods or services?
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#6"I want to be clear here that the blame, to the degree that there was, is largely in the United States, not in Europe, not in Britain," Schmidt said.
... Right. I would be more concerned if this remark wasn't coming from a man who is little more than the world's best-paid babysitter. I am sure he would be delivering a different line if he were talking to the New York Times.
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#7he's full of schmidt. the private sector responds to the shitty incentives the government provides. the private mortgage market had no incentive to act responsibly because the government backed fannie and freddie were buying responsible and irresponsible loans indiscriminately. if banks had actually been holding the loans themselves they wouldn't have made such crappy investments.
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#8Clueless.
"I want to be clear here that the blame, to the degree that there was, is largely in the United States, not in Europe, not in Britain."
Because the American branch of the Illuminati run Iceland, Northern Rock, those German manufacturers who were having to finance their customers because banking disappeared, and so forth?
"And it was fundamentally because a low-interest policy created too much money. It was an easy-money policy and eventually an easy-money policy catches up with you."
Most of the bubble money supply came from leverage (massive fraud with a sprinkling of "deregulation"), not interest rates.
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#9Eric's been hitting all the high notes lately. I'm waiting for his pronouncement on climate change.
Re: Google's Eric Schmidt on why bankers deserve little sympathy and Obama does
#10What the hell?