Tuesday, Jun 09, 2009
The Truth is Starting to Dawn
BusinessWeek: Returning Bailout Money Just a SideShow
The only problem, says Charles Ortel, managing director, Newport Value Partners, a research firm in New York City, the money is just a drop in the bucket as far as what the government has shelled out to prop up the economy—and it’s not exactly working yet. “The government has spent trillions and yes, it’s nice to get some of it back, but it’s a distraction from the main event,” says Ortel. “Private sector jobs have fallen off a cliff. The country and homeowners and the government are awash in debt."
Posted by devo @ 10:41 PM (479 views) Add Comment
3 Comments
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1. mander said...
Greatest ponzi scheme in history. Stealing money from future generations cause they can not put you in prison. I guess some people need to get rich somehow... Just because of some clueless politicians actions the world has returned to feudalism.
2. devo said...
@mander said... "clueless politicians"
Is being clueless a crime? It usually elicits sympathy.
3. devo said...
If I worked in the City, I would be feeling very guilty right now.
Perhaps that's why I don't.