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Showing posts with label Andrew Ross Sorkin. Show all posts
Showing posts with label Andrew Ross Sorkin. Show all posts

Saturday, September 18, 2010

Quote of the day--on our previous--and next?--financial collapse

From Andrew Ross Sorkin today, this morning, on NPR's Weekend Edition: "I think about this all the time and I dont want to ever have to write a sequel to this book. But what I worry about, actually, is not Wall Street but what worries me now is that too big to fail is now being applied to countries and states like California and Greece and Italy and Portugal. And the same problem that Lehman Brothers had, this idea that other banks weren't going to trade with them because all of a sudden they weren't confident enough that they were going to be able to pay back the money, that that's what's going to happen to a state like California and that's what's going to happen to this country, that in the future countries are going to have this problem, that people are just going to decide, you know what, we dont trust these guys, we're not confident that they're ever going to be able to pay us back. And that's what worries me the most." Me? Personally? I KNOW we need government. We need government to create schools and pave the streets and build and maintain our infrastructure. And we need it to police the corporations. We need them to protect us. Too many Americans haven't come to this realization, in spite of the last decade and our near-collapse. Link to original post: http://www.npr.org/templates/story/story.php?storyId=129953853