Friday, November 28, 2008

Investigations: How Citigroup Engineered Its Own Mess

Some of the best-paid bankers in the U.S. "were overrated dopes who had no idea what they were selling, or greedy cynics who did know and turned a blind eye," says Thomas Friedman in this New York Times column on an interesting investigation by the same paper of how Citigroup masterminded its own mess leading up to the Panic of '08. "But it wasn’t only the bankers," Friedman adds. "This financial meltdown involved a broad national breakdown in personal responsibility, government regulation and financial ethics."

TAGS: markets, investigations

No comments: