All Fall Down

By THOMAS L. FRIEDMAN
Published November 25, 2008

I spent Sunday afternoon brooding over a great piece of Times reporting by Eric Dash and Julie Creswell about Citigroup. Maybe brooding isn’t the right word. The front-page article, entitled “Citigroup Pays for a Rush to Risk,” actually left me totally disgusted.

Why? Because in searing detail it exposed — using Citigroup as Exhibit A — how some of our country’s best-paid bankers were overrated dopes who had no idea what they were selling, or greedy cynics who did know and turned a blind eye. But it wasn’t only the bankers. This financial meltdown involved a broad national breakdown in personal responsibility, government regulation and financial ethics.

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Other items of interest:

Read the Wired article on Hot, Flat, and Crowded.
Read "The First Law of Petropolitics" from Foreign Policy (May/June 2006)
Visit "Tom's Journal" on The NewsHour with Jim Lehrer
Listen to Tom interviewed by Nayan Chanda for YaleGlobal, 30 January 2003.
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Ideas from Chapter 18:

Anil Jain wrote "How can the auto companies..." in Without a Price Signal... Tuesday, 04:38 pm
Alek wrote "Hi. Good site...." in Without a Price Signal... Tuesday, 12:16 pm
Bailey Fiedler wrote "Dear Dr. Friedman; As..." in Where's the Price Signal? Monday, 08:48 pm
David Cottingham wrote "Hi Thomas, Great idea to..." in Making Clean Energy Work Monday, 02:44 pm

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