There is some sort of pattern about this. Cortez conquered more than 300,000 Aztecs with 400 Spaniards and a few thousand Indian mercenaries. Enron was brought low by the actions of fewer than a dozen men. President Nixon resigned and caused a crisis after the Watergate mess planned by a few men. Bernie Madoff caused the collapse of several financial entities by paying out much more than he was taking in, losing 30 billion in the process. Now, Wall Street has collapsed and many banks are insolvent due to the actions of a handful of men. The national economy is in dire straits because a few men thought there was no end to the flow of good money available for bad investments. What next? Will crops fail, too? Are the farms in the hands of a few? Pictures at 11:00.
Saturday, January 24, 2009
The few
Labels:
Adolf Merckle,
banking,
Bernie Madoff,
Economy,
Wal-Mart,
Wall Street,
Washington D.C.