Fidelity chairman and CEO Ned Johnson's
letter to shareholders in the firm's annual report was picked up by various media outlets, including the Wall Street Journal and two Boston papers.
In the WSJ Fund Track Jennifer Levitz focuses on Johnson's disparaging remarks about the financial-services industry's behavior in 2008. Johnson wrote that 2008 was a "period laced with toxic investment waste and the casual use of other people's money by a number of institutions."
The Boston Globe's Ross Kerber also zeroed in on Johnson's comments about the errant decisions of other financial institutions that contributed to the current state of the economy.
Jay Fitzgerald of the Boston Herald took a slightly different route, instead focusing on Johnson's comments on the Obama administration's "New Deal II." In the letter, Johnson warned that in the course of trying to cure the ailments of the economy, the government should make sure it "doesn’t further sicken the patient.”
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