financiers

Doug Henwood dhenwood at panix.com
Mon Jan 29 10:11:34 PST 2001


Johannes Schneider wrote:


>Doug Henwood quoted:
>> New U.S. Treasury Secretary Paul O'Neill in a WSJ interview:
>>
>> "I just don't understand what that conversation is about,"
>> he said, describing some financiers as "people who sit in
>> front of a flickering green screen ... and they make
>> decisions on a carefully constructed, but nevertheless
>> speculative, basis about three-basis-point movements."
>> Though confessing that "I don't know how to do that,"
>> he quickly asserted that "I probably could learn in about
>> a couple weeks." Those traders, he said, "are not the sort
>> of people you would want to help you think about
>> complex questions."
>>
>
>Do I hear the distinction between 'bad' speculative capitalists and 'good'
>productive capitalists?

Leave it to an industrialist to try to make it.

Doug



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