But blaming rating agencies and computer models, of course, is a way to avoid the real debates, the ideological ones - that over the supposed superiority of the "efficient markets" to drive economic behavior, that over the insistence that things be valued in dollars (discounted cah flow) or be worthless, and that over the idea that greed is good and leads to socially acceptable outcomes. The core of the Reagan-Thatcher revolution is that greed (especailly that of financiers capturing future cash flows of the real world for their personal, immediate profit) spontaneously improves the common good, and that all regulations and taxes that limit it should be dismantled.
It's disheartening. In the long run, we're all dead. John Maynard Keynes
Political wanking*, if you will.
If I had enough "face" I would ask John Aravosis how he thought the issue should be addressed. I rate him as one of the best tactical campaigners on the left wing blogsphere.
God love Atrios but he does not know how to use the work wanker properly. ;-) Money is a sign of Poverty - Culture Saying
oops. Money is a sign of Poverty - Culture Saying
