“And that’s capitalism”

Yves Smith, on the failures of banks to do their jobs and their push to get a Get Out Of Jail Free card from the 50 state attorneys general:

As a lawyer I know said, if a bank is so bad at doing its job that it can’t foreclose, it deserves to go out of business. And that’s capitalism. But things don’t seem to work that way in America any more.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s