how wall street bent steel

A great article today in the NY Times, “How Wall Street Bent Steel,” about Tinken, a family-run business in Canton, Ohio, where activist investors are posing a threat to the company’s survival. Muddy, complex, scary stuff. Short term rewards vs. long-term strength. Community vs. individual profit.

The thing that especially resonated for me is this quote by Suzanne Berger, a professor of political science at M.I.T.: “We’ve got a financial system in the U.S.,” she said, “where California teachers have to protect their pension funds by hurting manufacturing in Ohio.” Capitalism, man.