Sunday, April 19, 2009

"Green Jobs"--The New Sub-Prime?

"Remember sub-prime mort-gages? Now universally excoriated as the spawn of the devil, the proximate cause of the credit crunch and all that followed, a few years back “sub-prime” was everyone’s darling. Financiers loved it because it generated sumptuously high-yielding debt instruments; governments, because it promised to make even the poor into proud property owners. Now business lobbyists and governments on both sides of the Atlantic have got a new big idea. They call it “green jobs”." [Times On-Line]

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