A personal blog from librarian who is progressive and pagan, discussing politics, current events, and books.
Wednesday, January 7, 2009
The Pressure to Produce Short-term Profits
This New York Timesarticle does a good job of beginning to explain how the financial world got into such a bad mess. Greed was an insufficient cause, there's always greed. It talks about how bad the pressure is for companies to provide short-term profits, and how badly the rating agencies and the S.E.C. were at providing any valid information or regulation.