I seldom agree with Robert Reich, but I believe he is on target with this piece. Read the article here.
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Wood, Thanks. Glad to see you’re also reading our friends on the left side of the spectrum. My favorite quote on this has been from CFTC Commissioner Bart Chilton, who said when he saw the trader’s e-mail asking to put a “fix” in for LIBOR so his trade would be good he, “felt sick to his stomach”.
I guess some people just need that extra edge to to be profitable.
It really is sad. It just gives more fodder for those who want to completely dismantle the free market.