本文发表在 rolia.net 枫下论坛The Wall Street banks are the tailor in the story Emperor's new clothes. They exposed the problem, but they didn't create it.
The Emperor has been given away his clothes for many years, electronics and auto to a family called Japan, IT to India, everything else to China, etc. But he does not mind. Hey, because I'm the Emperor, I will always have something new, something better.
And then he finds a Wonderful tailor called Wall Street, he makes a lot of new invisible clothing for the Emperor, the high-tech bubble, housing bubble, stock market bubble, creats a wealth of illusionary profits, fake growth. The tailor pockets big bonus, and the Emperor feels good.
One day on a parade, a little girl called subprime calls out loud, "the Emperor is wearing no clothes, he's naked". Now, everybody notices this. The average folks blame the tailor for fooling the Emperor and want to take back his bonus. The Emperor feels embarrassed, and wants the tailor to put real clothes on him. The tailor says 'I have nothing left, everything has been given away. The only thing I can cover you now is more invisible clothes (debts)'.更多精彩文章及讨论,请光临枫下论坛 rolia.net
The Emperor has been given away his clothes for many years, electronics and auto to a family called Japan, IT to India, everything else to China, etc. But he does not mind. Hey, because I'm the Emperor, I will always have something new, something better.
And then he finds a Wonderful tailor called Wall Street, he makes a lot of new invisible clothing for the Emperor, the high-tech bubble, housing bubble, stock market bubble, creats a wealth of illusionary profits, fake growth. The tailor pockets big bonus, and the Emperor feels good.
One day on a parade, a little girl called subprime calls out loud, "the Emperor is wearing no clothes, he's naked". Now, everybody notices this. The average folks blame the tailor for fooling the Emperor and want to take back his bonus. The Emperor feels embarrassed, and wants the tailor to put real clothes on him. The tailor says 'I have nothing left, everything has been given away. The only thing I can cover you now is more invisible clothes (debts)'.更多精彩文章及讨论,请光临枫下论坛 rolia.net