No longer:
Is it possible that I have misjudged Mitt Romney? My take has always been that he’s a smart guy who also happens to be both ambitious and completely amoral; ... [m]ore and more, however, he has been coming out with statements suggesting that he is, in fact, a dangerous fool.At issue is Romney's recent thoughts about the $2 billion loss at Jamie Dimon's JPMorgan. Here's what Romney said:
This was a loss to shareholders and owners of JPMorgan and that’s the way America works Some people experienced a loss in this case because of a bad decision. By the way, there was someone who made a gain. The $2 billion JPMorgan lost someone else gained.There's a kind of predator-sense to that — one man's thigh can feed a lion for a week.
But before you read on, ask yourself: What is Romney missing? What does he not get about JPMorgan?
Answer — all of the money-center banks are being run like public utilities, where the profits are skimmed into Big Boy pockets, and the losses come from straight from You. Krugman:
Can Romney really not understand that key financial institutions are different from any old business — that ... taxpayers are ultimately on the hook for [their] large losses[.]That's correct. Romney really is that blind. Entitled, completely amoral ... and blind.
GP
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