Evercore's Altman on Capitalism

http://www.futureofcapitalism.com/2009/06/evercores-altman-on-capitalism

The chairman of Evercore Partners, Roger Altman, just told a conference that the financial crisis has put has put the "Anglo-Saxon model of free-market capitalism out of favor," and that "a new period of state intervention, re-regulation and creeping protectionism has begun," the Wall Street Journal reports. Mr. Altman ought to know that firsthand; Bloomberg reports that the Obama administration is in court challenging Evercore's fees leading up to the General Motors bankruptcy as "staggering," arguing, in essence, that the bankers don't deserve to be paid an additional $18 million to $54 million because the Treasury Department did a lot of the work that would have ordinarily been handled by bankers.

by Editor  |  Jun 23, 2009 at 4:49 pm Related Topics:  Auto Industry receive the latest by email: subscribe to the free futureofcapitalism.com mailing list