looting

[Colonel Kurtz]

great article in the NYT here

"Sixteen years ago, two economists published a research paper with a delightfully simple title: “Looting.”

.......

In a word, the investors looted. Someone trying to make an honest profit, Professors Akerlof and Romer said, would have operated in a completely different manner. The investors displayed a “total disregard for even the most basic principles of lending,” failing to verify standard information about their borrowers or, in some cases, even to ask for that information.

[well_known_grouse]

very interesting post ..