Geithner may be a brilliant bureaucratic economist, but in his role as a major figurehead he’s been a total flop so far. Sudhir Venkatesh, the author of Gang Leader for a Day, a brilliant look into the gang scene at a Chicago housing project, sat down with some real life thugs to see what they had to say about Geithner’s scheme so far. We couldn’t agree more with their advice:
The unanimous opinion among The Thugz was that you must base your work around a time-tested law of ghetto capitalism: losers must die in full view. What? This doesn’t make sense. O.K., well, let me explain. Your first mistake (more accurately, your predecessor’s error) was to mix the bad apples (banks) with the good (banks). By doing so, you forgot what makes capitalism so much fun: winners win at the losers’ expense, and everyone gets to watch and laugh. Sort of like public hangings, except reported on the financial pages. Otherwise, why read The Wall Street Journal?
The moral is: don’t ever take the joy of death away from the public. Because if you don’t see losers in pain, you begin to think the game is rigged. And we all know the game is fair, open, and transparent … yes?