[lbo-talk] Mark Ames on Fraudonomics, NY Press

[Paul Bartlett]

Mark Ames was the colorful amusing editor of The Exile, Moscow. He wrote
passing observations of the U.S. from the vantage point of an American ex
pat in Russia. His taste is often repulsive, but poignant observations often
work through his sometime bratish attitude.This article basically is a
report of a rant from a Private Equity friend on how pervasive fraud is in
our system. There's a nice box on fraud from Mark Ames America is Russia
notebook in the print edition.

I recall that Doug H. and Alexander C. wrote some good articles for the NY
Press many editors and owners ago, perhaps this venue has opened up again
for unconventional economic wisdom coming from LBO-Talk.

"...So they hung Lehman out in the free-market, and BAM! The. Sh*t. Hit.
The. Fan. No sh*t, dudes—the free market is for s*ckers, didn’t your daddy
teach you idiots that? Not only did Lehman collapse—everything collapsed;
confidence in the entire system collapsed. And here’s what I’m trying to
explain to simpletons like you: Our economy is just a confidence game. Don’t
ask me how it got this way, don’t care.”  -Private Equity worker

http://www.nypress.com/article-21163-fraudonomics.html