Thursday, 12 February 2009

The Ugly faces of Capitalism

At the same time as the Four men at the centre of the British banking crisis "unreservedly" apologised while appearing before MPs. on the Treasury Select Committee - The titans of Wall Street, were hauled before Congress yesterday.

Lined up in a row at a nationally-televised hearing, the chieftains of eight banks that received $165 billion in federal bailout funds were pounded with questions from US lawmakers demanding to know whether the firms were misusing taxpayer dollars.

"I feel more like corporal of the universe, not captain of the universe at the moment," said a sheepish Kenneth Lewis, chief executive of Bank of America.

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