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Bankers Think They Need More Praise

To fail to understand your own leverage and so push the world economy into a deep recession is something that would normally lead to some criticism. But "bankers" think they should be immune.

Paul Krugman watches the train wreck:

MHLAMF in Davos: From the FT:

Governments around the world must stop banker-bashing and create the right environment for lenders to support economic growth, some of the world’s most powerful bankers will tell finance ministers on Saturday.

So “Ma! He’s looking at me funny!” is now at the core of the financial sector’s complaints. And the world’s top bankers feel that after bringing on a gigantic crisis that has left millions unemployed, being bailed out, and receiving huge paychecks all the while, they now have the right to demand that people stop saying critical things about them.

Oh, and substantively, they want interest rates to rise despite the persistence of high unemployment.

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