September 22, 2009
"The continued existence of the floating, implicit government backstop of large, complex financial institutions allows them to privatize gains while socializing losses. This is economically catastrophic and morally repugnant."

— The cordially umbrageous John Carney comments on Paul Krugman Is Dead Wrong About Wall Street Pay

2:02pm  |   URL: http://boutofcontext.tumblr.com/post/194303844/the-continued-existence-of-the-floating-implicit
(No. OF NOTES: 3)
  
FILED UNDER: John Carney Clusterstock Krugman Wall St Compensation Bailout 
  1. johncarney reblogged this from boutofcontext
  2. boutofcontext posted this