Some solid advice mixed with some unenforceable moonshots. Nice mix.
The COVID-19 pandemic has illustrated how irrational the financial sector has become. Even as the real economy has ground to a halt, stock prices have gyrated wildly, first collapsing, then shooting up. Even as hundreds of millions suffer, Wall Street’s frenzied speculative activities have led to big tech corporations like Apple gaining in value and making money hand over fist.
It is as if the global financial crisis of 2008 and the ensuing recession and stagnation never happened. History explains why.
In early 2009, a newly inaugurated President Barack Obama corralled Wall Street’s most powerful CEOs into a White House dining room and chastised them for the recklessly high salaries and bonuses they paid themselves during a financial crisis they had caused.
“My administration is the only thing between you and the pitchforks,” he told them.
Source: After COVID: 10 Steps to Avert Global Financial Collapse | FORSEA