Today marks the 7th anniversary of Lehman Brothers disastrous collapse and the ‘official’ beginning of the global financial crisis. This is what Citigroup CEO Chuck Prince said in July 2007, about a year before the financialization fete temporarily halted:
“When the music stops, in terms of liquidity, things will be complicated.
But as long as the music is playing, you’ve got to get up and dance.
We’re still dancing!”
At present, Chuck Prince serves as a member BRT Institute for Corporate Ethics and works in The Financial Services Forum — a lobbying policy organization comprising the CEOs of 18 of the largest financial firms doing business in the United States. The Forum’s three primary missions are: to educate the public about the importance of robust capital markets; to encourage a competitive global marketplace; to shape the national and international regulatory dialogue.
The neoliberal tune keeps playing on. Sociology of economic immorality needs to be elaborated.