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Banned In China

Friday, May 22, 2009

Banks And Bankers

Somewhere in the Ur part of my brain I keep wondering if all this torture and star chamber stuff isn't being kept on the front burner to keep the discussion off economics.

Digby has a nice post up concerning Greider's book.

I had a friend in law school a woman who had worked for Greenspan between college and law school. This would have been during the Nixon interregnum. She told us a couple of interesting things about Greenspan. First, that he had a lot of women working for him, mainly she thought, because he could pay women less then men at that time. Second, that all their projections were massaged to project success for whatever it was that Nixon was trying to do.

But, the most revealing and kind of sadly funny thing was that one year they had a xmas party in the offices and a prize was given to the employee who had made the most accurate predictions for the previous year. That person was the guy who ran the mail room.

Whenever I think about our economic situation, I think about that story.

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