Congress's Financial Crisis Inquiry Commission held its first hearing yesterday. NPR reported that so many Senators and Congressmen are on the take, um, I mean receive large donations from the financial industry, that most of them are hoping it will just fade away.
The heads of the four largest banks – or maybe "financial conglomerates" would be a more accurate description – testified yesterday. These are the "best talent" that's attracted by the obscene bonuses. Krugman says they're clueless, and we should ignore whatever they have to say.
I have a better idea.
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