Nobel prize winning economist Paul Krugman has written a just fabulous assault on the bankers formerly known as ‘Masters of the Universe’ for the New York Times. Considering the testimony of Jamie Dimon of JP Morgan Chase and Lloyd Blankfein of Goldman Sachs before the Financial Crisis Inquiry Commission this week, he concluded, right on the money, that politicians engaged in deciding how to regulate the financial sector should ignore its leading proponents. Not just because they’re bound to be greedy, rapacious, morally incontinent partisans. But because they don’t actually know what they’re doing.

Are they still ‘Masters of the Universe’? No. But what they are rhymes with bankers.

 Print  ¦  Filed under: Financial crisis, They Just Don't Get It