White Devil's Mistakes
Well, he's only half right. It's white, blue-eyed Congress:
(From NYTimes Nov 5, 1999)I thought we were better than this. Really. When will the endless racism against the powerless light skinned and uncolored eyed people of this planet EVER end?
''Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,'' Treasury Secretary Lawrence H. Summers said. ''This historic legislation will better enable American companies to compete in the new economy.''
The decision to repeal the Glass-Steagall Act of 1933 provoked dire warnings from a handful of dissenters that the deregulation of Wall Street would someday wreak havoc on the nation's financial system. The original idea behind Glass-Steagall was that separation between bankers and brokers would reduce the potential conflicts of interest that were thought to have contributed to the speculative stock frenzy before the Depression.
Remember, racism is always an acceptable way for a head of state to express his views, as long as it's directed against whitey.
Allow a quick, second rebuttal...
Meet Vikram Pandit:See, Luiz? It's not a matter of skin color - it's a matter of greed and incompetence! And greed and incompetence crosses gender, race, and creed!
Citigroup's CEO Vikram Pandit has cemented his reputation as the worst CEO of the new breed of men who replaced the remarkably careless and callous executives who ran Citi, Merrill Lynch , AIG, and other financial colossi during the first part of the decade.
Pandit's tenure has been marked by tens of billion of dollars in losses and bumbling in his attempts to decide which business units the bank should keep and which should go. He said at one point that he would cut Citi's expense base by 20%. There is not much evidence to show that Pandit is even close to that goal.
Pandit was also the engineer of Citi's failed bid to buy Wachovia, more evidence of his very modest competence. Full Story here...