Jim Grant wonders where the outrage is over Wall Street’s reckless financial behavior. I think he answered the question when he theorized that there is no outrage because the people finally got everything they wanted, so how can they be outraged?
They wanted federally insured bank deposits. They got them. They wanted the government involved in the distribution of credit. No problem. They wanted government-controlled money. They got that too. It just goes to show why you have to be careful what you ask for. You just might get it.
Read it. It’s good.
