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In a recent interview with the New York Observer, 'Bonfire of the Vanities' and 'Electric Kool-Aid Acid Test' author Tom Wolfe declared that blame for the ongoing mortgage crisis can be placed squarely on the shoulders of digital media, BoingBoing tells us.
Whereas in earlier days, Wolfe explains, lenders reviewed mortgages on paper, today they are confronted with digital copies and, thus, a blinding computer screen. Rather than risk headaches and dry eyes by scrutinizing these documents, Wolfe theorizes, companies such as Lehman Brothers just toss them in the 'accept' bin. This, he declares, is just one more reason to lament "the backward march of technology."
And this statement, in all its hard-headed Luddite glory, is just one more reason to love Tom Wolfe. [From: New York Observer via BoingBoing]
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Comments
2
Subscribe to commentskunzspOct 8th 2008 8:43PM
Bonfire and The Man in Full are two favorites of my and The
Purple Decade as well, but I did not quite understand what
he said. It was Greek to me. I am not a business woman
which may explain it. Phylls Kunz
VinceOct 8th 2008 10:42PM
He was making a joke. And Switched thought he was being serious.