Middle East Focus: War on Stupidity II: Forbes Culture, Corporate Welfare Culture… …

Arabia Deserta

War on Stupidity II: Forbes Culture, Corporate Welfare Culture… …

"Scary Stuff? Not:.....Oh sure, there were renewed calls for more regulation--a super regulator to monitor excessive risk-taking among banks, the president said. He slapped around the greedy bankers a bit (how difficult is that?) with calls for more responsible behavior. He spoke about a "new Consumer Financial Protection Agency" needed to monitor the stupidity of people "who signed contracts they didn't fully understand," and then took out mortgages they couldn't afford (can't wait to see this one)……..”
I always thought it took at least two to tango…

Well, if these stupid people, as he calls the average people, had the resources of the financials and their CEOs; if they had all the CPAs, CFOs, and lawyers, they probably would have understood the tiny small print as well as the CEOs of the financials.

BTW: even with all the CPAs, MBAs, and lawyers at their disposals, the CEOs of the financials acted quite stupidly, to the extent that they needed public money to keep them afloat. Many of their companies went under, others were taken over. Now how smart is that?

Cheers and Ramadan Kareem
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