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In response to
"Somehow he seems to think that Corporate America is not deserving of vilification. -- nm"
by
TaurusII
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Personally, I do think it has become too broad reaching.
Posted by
pmb (aka pmb)
Mar 11 '09, 13:29
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Certainly there are those individuals (including many at the top) who deserve scrutiny, and if not punishment (because much of what was done was not illegal, but just short-sighted), then significant future regulations to deal with going forward. But, the constant finger pointing, ridiculing, microscopic scrutiny is undermining confidence in institutions that need confidence to work effectively. Most of those working at banks did their jobs just fine. The attacks on Northern Trust Bank for sponsoring the golf tournament were just silly. They are a profitable bank and this is how they entertain clients that keep them a profitable bank. I know they got TARP money, but that shouldn't mean they have to stop doing things that work for them just because it makes others feel bad. As I said, scrutiny is necessary and important, but constant finger pointing just further lowers confidence in the system.
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