Nearly every president had wanted a second term, despite the fact that history clearly taught the last four years would be nothing like the first. Either the president became overly aggressive, knowing he had nothing to lose, which alienated both supporters and detractors. Or he became cautious, placid, and docile, not wanting to do anything that might affect his legacy.

Bad company is as instructive as licentiousness. One makes up for the loss of one&#39;s innocence with the loss of one&#39;s prejudices.

This was only one of many recent changes along the capitalist food chain. Wall Street had gone from being the celebrities of the money culture to being its lackeys.

Written By Michael Lewis

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