Savage neo-liberal capitalism

Will anyone other than the financial papers bother reporting about Raine’s and Fannie Mae’s shoddy accounting practices that involved overstating profits by $6.3 billion, making the infamous Ken Lay and Enron’s $567 million overstatement look like a conceivable mistake? Where is the outrage in the mainstream media now?

As usual, it will be misplaced by journalists who find it much easier to report unfounded drivel. Such as the current chorus of “intellectuals” who don’t understand actual, inevitable economic realities such as price elasticity and budget constraints but are quick to coin misleading, albeit catchy phrases such as “savage neoliberal capitalism”.

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