SIR: In Down to Earth you write that "Some of the best minds of this generation" are Investment Bankers. Are these the same geniuses described later in Spring Break? First, they run a transparent scam to fleece tax collectors. Clever, but far from rocket science, ( an "odd ritual") and of zero benefit to society.
But then, they get really clever. Most people holding a huge loan that needed to be repaid within a week would put it someplace exceedingly safe. No, not the "best minds" at AIG. They invested in risky and illiquid bonds. Actually, worse than invested. They leveraged the risk: "used the cash it accumulated as collateral to invest in risky and illiquid mortgage bonds." What could possibly go wrong? How could the "best minds" miss the risks? When it tanked, all at a cost of $182 Billion to U.S. taxpayers.
Sorry, these are not "best minds". Best minds invent, discover, or develop things of benefit to mankind. These bankers have irresponsible antisocial criminal minds scheming to get rich quick while fleecing the rest of us.
Sincerely,
Morgan Conrad
Montara, California
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