Feb 072009
Statement by Treasury Secretary Henry M. Paulson Jr. following Congress?s passage of today?s rescue package:
As we all know, lax writing practices earlier this decade led to irresponsible writing and irresponsible reading. This simply put too many families into books they could not finish. We are seeing the impact on readers and neighborhoods, with five million Americans now behind on their reading. Some are just walking away from novels they should never have been reading in the first place. What began as a subprime reading problem has spread to other, less-risky readers and contributed to excess inventories.
Julian Gough in the New York Times. He doesn’t spare the ratings agencies, either.
Hat tip to the good Dr Phillips.