Wednesday, October 08, 2008

Steve Forbes on CNBC

Steve Forbes is such a weasel. Why does CNBC have him on at all? First he's up there crying for Mark to Market accounting to be suspended so bankers will be more comfortable, then he and Jack Bogle of Vanguard are going back and forth in a predictable manner, and Forbes asks Bogle something like: "If equity markets are like this, and the economy is like that, what can we do for the (he stopped himself from calling them "poor bankers") who are huddled scared over here in Treasuries? What can we do to make them start lending again?" Portraying the bankers as the victims now. Now, I don't demonize the financial community, I think we've all been overconsuming together, but bankers are by no stretch of the imagination victims, and there's no reason to evoke pity for them.

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