More Candid Musings from Michael Lewis
As I was reading Holman Jenkins's column this AM on the way to work, I said to myself, "Self, you gotta blog this column and highlight this awesome bit about Jim Press leaving Toyota." I get into the office and do some stuff and before I get a chance, Don Luskin excerpts the exact same bit. Seriously, check it out.
But fortunately there is other nice blogging material out there. Indeed, hot on the heels after reminding us that this whole subprime mess is what happens when you lend money to poor people, Michael Lewis today offers some more candid lessons on capitalism. You shouldn't need a taster to want to read Lewis's stuff but here are is my distillation of Lewis's five lessons:
1) Let Private Equity titans have more votes.
2) Congress is Dumb.
3) Steve Schwartzman is a freakin' Rommel, let him "eat what he kills"!
4&5) Let the Big Dogs of Capitalism run.
Not sure about #1, but I'm fully behind 2-5.
But fortunately there is other nice blogging material out there. Indeed, hot on the heels after reminding us that this whole subprime mess is what happens when you lend money to poor people, Michael Lewis today offers some more candid lessons on capitalism. You shouldn't need a taster to want to read Lewis's stuff but here are is my distillation of Lewis's five lessons:
1) Let Private Equity titans have more votes.
2) Congress is Dumb.
3) Steve Schwartzman is a freakin' Rommel, let him "eat what he kills"!
4&5) Let the Big Dogs of Capitalism run.
Not sure about #1, but I'm fully behind 2-5.
posted by Donny Baseball at 4:17 PM
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