Steven Pearlstein, a one-time reporter for the Post who now pens a column for the newspaper, wrote February 20 that “the best thing that could happen to our economy is for a dozen high-profile hedge funds to collapse; for investment banking to enter a long, deep freeze; for a major bank to fail; and for the price of a typical Park Avenue duplex to fall by 30 percent.”
It’s kinda hard to imagine the irresponsibility of a columnist seriously suggesting that economic collapse is a good thing. While declining values for Park Ave. duplexes would not be catastrophic, a massive collapse of investment funds and banking would be globally devastating.
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