Business as usual

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Felix Salmon links to Andrew Ross Sorkin, who analyzes the dearth of remorse on Wall Street: 

One of the frustrating parts of researching my book came when I finally got to ask the question of Wall Street chief executives and board members that you just raised: Do you have any remorse? Are you sorry? The answer, almost unequivocally, was no. (Or they just didn’t answer.) They see themselves as just one part of a larger problem, with many constituencies to blame.

Salmon adds:

If bank executives (with the notable exception of John Reed) see no need to apologize for destroying the global financial system, they are still part of the problem and are very unlikely to be part of the solution. Which bodes ill for the future.

Between the exuberant rush to emerging markets, rising commodity prices, a weaker dollar, and a renewed hubris in the financial sector, it's beginning to seem like it's 2007 all over again.

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