Government bailout signals death of capitalism – Ken Griffin ...News

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Government bailout signals death of capitalism – Ken Griffin
source : Russia Today ( News ) () 46
The billionaire has criticized Washington’s plan to help depositors recover their money The US government’s intervention in the unfolding banking crisis has been slammed by Citadel hedge fund founder Ken Griffin, who told the Financial Times the situation should have served as a good lesson for investors. According to the report on Monday, Griffin said the strength of the US economy meant the authorities did not have to take such forceful action. “It would have been a great lesson in moral hazard,” he was quoted as saying by the FT. “Losses to depositors would have been immaterial, and it would have driven home th

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