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« WSJ: Bank Pay Controls Aren't the Answer | Main | Dow Jones vs. the Monetary Base Chart »

September 24, 2009

Comments

Eric Berry

What an incredibly insipid, trite commentary, Andy.

Meritocracy? Really? It's anything but a meritocracy. Short of inflating profits via incredibly stupid, short-sighted, risky behavior, what do these bank managers do that is of merit?

Instead, it is a parisitocracy. They are parasites, using other people's money and the fruits of other people's labor to further their own ends. Nothing made, no long-term goals realized. Only short-term gains at any cost.

You'll argue that the meritocracy angle comes from the fact that only the most adept greedy little monsters stay employed. I suppose if they are only judged by their fellow parasites, it might be a meritocracy. But it's everybody's economy, and bank managers therefore must be judged by everybody's moral standards. Using the standard I'd apply to myself, my family, or my friends, nothing these bank managers do is of merit.

Meritocracy. Jesus Andy, you almost made me crash my car when I heard you say that word tonight. What a crock.

H

Glad to see that I am not the only one who was very disappointed with Andy┬┤s use of the word "meritocracy" to describe Wall Street and the banksters. Words like like "kleptocracy" or "kakocracy" would be more appropriate!

http://www.youtube.com/watch?v=6CcAkSE4Pik
http://www.whale.to/b/ruppert1.html
http://www.dunwalke.com/contents.htm

Robert Dobb

Yes. Meritocracy.

It seems that some do not understand how this and other industries operate.

Mnasoor

Meritocracy?! I almost lost my confidence on your other writings too ...

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