Jack Welch and Alan Greenspan, among others, have now acknowledged that the basic principles on which they operated were wrong.
However, words are cheap....
As far as I know, they not done the obvious decent thing and given away even a major proportion of the money they earned from operating on false principles.
If they did give away a major part of their wealth, it would be some little consolation to the many millions around the world who have been brought to deprivation and even ruin as a result of operating precisely those false principles.
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Their getting off the hook by saying sorry does seem like adding insult to injury, but I imagine there are practical (legal?) issues that hinder anyone, government agencies included, from pressing charges, which I imagine would be the only venue for any punishment.
I realise that my remarks are groundless, but they do reflect my view of "the system".
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