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There's this rather interesting opinion column I just saw in Asia Times online http://atimes.com/atimes/Global_Economy/JB16Dj02.html in which the writer argues that all the bloated Wall Street firms should be allowed to collapse, rather than the U.S. Treasury rescuing them from their own idiocies.

Not a bad idea, perhaps.

by Mnemosyne on Fri Feb 15th, 2008 at 10:00:28 PM EST
The author seems to think that economic ideologies produce circumstances rather than reflect them. Perhaps- perhaps not. A good case can be made that there is a vibrant growth industry in producing ideological "products" to satisfy a market for fig leaves- justifications for plunder.
Also, there is still a lot of confusion around the world about the "Government" and "Wall Street" in the US. Ask any of the denizens of K-street, after a two martini lunch, who really rules, and I suspect the confusion will be cleared up right away.

"There is mysterious music in democracy, when people decide to believe in themselves." ---Bill Greider, The Nation.
by geezer in Paris (risico at wanadoo(flypoop)fr) on Sat Feb 16th, 2008 at 02:21:14 AM EST
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