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And when it does, it's going to make the last three years look like a walk in the park.

If you thought a month-long market seizure, the failure of Northern Rock, Bear Stearns, Lehman Brothers, and Iceland was bad, the next round is going to be worse.

This is what happens when governments spend three years trying to restore an unsustainable (and fraudulent) status quo rather than reform the system.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Migeru (migeru at eurotrib dot com) on Wed Oct 13th, 2010 at 07:16:47 PM EST
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