At the US News-hosted “Capital Commerce” blog, James Pethokoukis offers his list of “The 10 Dopiest Business and Economy Leaders of 2008,” acknowledging that …
In a year when Wall Street imploded, the Big Three automakers neared collapse, and the economy plunged into its worst downturn in at least a generation, finding business and economy “leaders” who messed up badly isn’t too hard.
I’ll say this much for Pethokoukis: He’s not afraid to criss-cross the ideological divide when spreading blame — although at least one culprit is missing from his list, namely: Every American who insisted on living beyond his/her means. In fact, if the list were mine, I’d put the latter in the not-coveted, number-one spot.
UPDATE: Perhaps ranking profligate borrowers and buyers in the number-one spot was a bit harsh/unfair. So, let’s move them down a notch … or nine. But they still deserve a place on the list, despite the hysterical objections of a certain commenter to this post. There are simply too many people who spend like drunken sailors, or buy bigger or more houses than they can afford, and then cry like babies when they get squeezed. I’m not saying that’s true for everyone; there are legitimate victims in this mix. But we must also be careful to distinguish cases of real victimhood from real stupidity.