A demolished American bank sues a still-living company. Or, as Ars Technica so Gothically puts it,
Zombie corpse of Lehman Brothers sues Intel
More:
even dying giants have some fight left in them: the slowly decaying remains of what was once Wall Street's fourth-largest investment bank have filed suit against Intel because of a billion-dollar deal gone bad.
This meme is quite durable, having last years through a very manic media spin cycle. Why do we love our zombie economics so much?
This Lehman-Intel case points to one reason: the sheer destruction of 2008, especially in the United States. So much wealth disappeared, and so many giants fell that we're still processing it. Moreover, the subsequent "recovery" has been so weak that we can't easily shake off the five-years-old disaster. On top of this, we now have the 1%/plutocracy meme, which had been submerged in American popular culture for a very long time. This gives us an opening for monstrosity, and the economy's current status doesn't argue for vigorous creatures.
(thanks to Randy McCall)
Recent Comments