Lest We Forget
We live in the Age of Enron, Thomas Frank remind$ us.
Components of increasingly frequent scandals as per the Enron template, to wit:
- “relentless hostility to regulate”,
- “capture of the private sector’s oversight mechanisms”,
- “distinctively truculent culture of the trading floor”
- “a sort of unconscious journalistic perversity”,
- “we will not get it” and “convince ourselves that these terrible things happened to us because markets are not free enough“.
Banking crisis, anyone?