Michael Lewis: Parasites are Killing Their Hosts

Good interview with Michael Lewis:

Lundborg: You say that when confronted with a dark room filled with money, Americans grabbed as much as we could.

Lewis: The common theme between public employee unions, say, and Wall Street bankers is an excessive focus on the short term and a weird blindness about the long term.

It’s unsustainable behavior, parasites everywhere killing their hosts.

via Michael Lewis Slams Wall St., Leadership Deficit – Bloomberg.

Related posts:

  1. Michael Lewis: The End
  2. Michael Lewis on Charlie Rose
  3. linkfest 02/11/08: Spitzer’s Targets, the Trouble with Michael Lewis, etc.
  4. Michael Lewis: Bond Market Will Never Be the Same
  5. Michael Lewis on Wall Street

Comments

  1. Jonathan Jacob says:

    Did he forget to mention politicians?
    Myopia caused the debt deadlock in August and no permanent measures have been taken to fix it.

  2. BL_ says:

    Yes because deferring your compensation until after retirement is the very epitome of short term thinking. For real Michael? Its the companies that made those deals that were focused on the short term by thinking they could get away with paying people less in exchange for retirement benefits 30 years down the road.

  3. markincorsicana says:

    After 28 years as an RN in a public hospital in Texas ( where we were forced to work unpaid overtime or loose our jobs for more than 10 years) I will receive about $1600 a month. We have no union. If the public employees in other states who are able to unionize can get more….GOOD FOR THEM! At least they won't be decelerating the velocity of money into deflation like the banksters.