Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Am I the only one thinking that someone with a few more letters in front of his or her name than I have should send those two bullet points as an LTE? Something along the lines of

Dear Sirs,

Over the past few months, the very people that for decades have explained to us that governments were incompetent and had to be shrunk had no recourse but to go to the government for money, guarantees and action when they drowned in a mess of their own making. From this, it would appear obvious that (i) governments play a valuable role and thus cannot be continually deprived of the resources they need to fulfil those functions, and (ii) those that consistently pushed an across-the-board anti-government agenda should perhaps now be recognised as shill extremists, rather than serious and worthy participants in the public discourse.

Further, it would be worthwhile to ponder what could be done with an investment of a trillion or so euros of public money in things like energy efficiency, public transportation, housing or poverty reduction. All of these things create massive positive externalities that benefit society as a whole, and would be especially helpful as we face the banker-caused economic downturn, collapsing real estate sector and high energy prices. If we can justify sending a trillion € down the rabbit hole to chase incompetent bankers that threaten to take us down with them as "investment", then we surely can actually invest in the economy in ways that will benefit all and not just a greedy few.

With regards,
[signed, etc.]

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Oct 14th, 2008 at 08:42:18 AM EST
It's probably too soon after the previous letter to send them this, but hey, it's worth doing anyway.

Maybe someone can also post a link to ET and this post over on Gideon Rachman's blog?

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Oct 14th, 2008 at 09:13:41 AM EST
[ Parent ]
Sounds great, I see one problem: most of that €1.1 trillion would only be guarantees, not going down the rabbit hole; and they claim that the stocks in whose purchase most of the rest is going into could be sold for profit later, thus also not going down the rabbit hole. Then again, the latter argument could be made about a lot of other state investments, too.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Tue Oct 14th, 2008 at 11:05:44 AM EST
[ Parent ]


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