Along with the demise of investment banks, bundled securities, greed, and suburban living, let’s hope the global recession also does away with the 24-hour news cycle, that endless onslaught that is distracting us from the big picture.
The news last week that senior executives at American International Group, the ailing insurance giant and federalised money-pit, awarded themselves at least US$165 million (Dh606m) in bonuses triggered the inevitable Pavlovian response in the media.
Like iron shavings to a magnet, legislators raced for the TV cameras to exploit the popular ire.
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