Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Wednesday, November 10, 2010

Clear thinking about the fiscal hawks

Unless and until you are ready to really reform the financial sector, you cannot be taken seriously in the fiscal space. It’s the big banks that blew up the economy, caused a devestating recession, and pushed up debt by 40 (forty) percentage points relative to GDP.

None of today’s “fiscal conservatives” showed up to work hard on constraining global megabanks over the past 18 months. They have repeatedly and explicitly earned the right not to be taken seriously.
---Simon Johnson

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