Sunday, October 27, 2013
theguardian.com, Thursday 24 October 2013 14.24 EDT
What’s the real cost of a financial crisis? Apparently, it depends on who’s paying.
If you’re Jamie Dimon, the CEO of JP Morgan Chase, or Brian Moynihan, the CEO of Bank of America, it’s a price your $2tn bank can easily afford to make trouble go away.
If you’re a homeowner, it’s a price that has rendered your past five years a struggle of financial anxiety. If you’re an American, it’s a price that has resulted in a recession and recovery characterized by historically high poverty – with 42 million Americans on food stamps – and historically low rates of Americans working, with only 63% of the population gainfully employed.
Posted by Dictynna at 11:14 AM