greed n 1: excessive desire to acquire or possess more (esp material wealth) than one needs or deserves 2: reprehensible acquisitiveness; insatiable desire for wealth (personified as one of the deadly sins) [syn: avarice, covetousness, rapacity Personification: John Thain - Merill-Lynch CEO Thain got a $15 million sign-up bonus when he joined ML just last year, received a $750,000 salary for which he ran the company into the ground; and as the firm was being bought out by Bank of America, Thain's last act as CEO was to request a $10 million bonus. Severe criticism from his outraged peers in finance and government forced Thain to withdraw his request Monday.
The economy is going to hell in a basket — assaulted by greed, dispatched by arrogance and guided by stupidity. Learned economists would have us believe that the depression is the product of Adam Smith’s invisible hand – the inevitable result of natural forces on a virgin market – but we have photographic evidence of just whose very visible hand is at play (see image above). No one is buying the Smith myth anymore! This is the work of man – the predictable product of a culture that promotes avarice, reveres greed, celebrates arrogance and rewards stupidity. Some years ago my youngest son pointed to a sign that read, “More of Everything” and with wisdom beyond his years suggested that that should be America’s national slogan.