David Mandl on Sun, 18 Aug 2002 01:54:32 +0200 (CEST)

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<nettime> Thomas Frank on the "public intellectuals of the bull market"


"Two years of stock market collapse have done much to transform public
opinion in America. The crash has rudely discredited the nation's chief
executives, the heroes of the decade past. It has smashed the reputation
of the accounting industry, and it has ruined the image of the superstar
stock analysts, all those who worked so desperately a few years ago to
invent new methods of valuing valueless companies. It has brought on one
of the most severe - most well-deserved - corporate crises since the
1930s. But nothing touches the public intellectuals of the bull market.
Most of the other 90s types have passed from the scene: the swashbuckling
dotcom entrepreneurs have moved back in with mom, the rule-breaking CEOs
are being hauled before Congress for a tongue-lashing, the day-trading
pensioners who were supposed to "beat the pros" are thanking God that
Social Security still exists. But many of the ones who wrote the
Dow-worshipping books and who handed down all those daring pronunciamentos
from the silicon heights are still cruising from one posh gig to the


Dave Mandl

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