Barry Ritholtz Kicks Some Ass

Are WSJ OpEd Writers Clueless or Liars? [ TBP ]

America Needs an Intervention

The United States has been living a lie.

As a nation, we have been kidding ourselves, repeating myths, hoping that if we say something enough times, it will become reality — no matter how untrue. The credit crisis and now foreclosure debacle has revealed to anyone who cares to look what we have sought to ignore: That the past decade has been based on a set of fundamental beliefs that are intrinsically false.

Its time for an intervention. We need someone to force us to stop hitting the bottle, lose the bimbo, skip the dessert cart, visit the gym. Its time to stop bullshitting ourselves about Financial Engineering, and face both the Truth & Consequences of our legacy financial system.

It is past time we recognize these hard truths:

[ TBP ]

“The trouble with practical jokes is that they often get elected.” -Will Rogers

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