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I find myself so fuming that I find it hard to provide a level-headed opinion. But it seems to capture what must be said quite concisely, except that I have a problem with that sentence:

"it demonstrates its absolute failure as the only solution to avoid complete market panic and failure is public intervention, in the form of Fed guarantees over Bear Stearns liabilities."

Do you mean failure leads to public intervention? Should we insert a comma, or is it a typo?

Anyway, I find myself in an uneasy situation these days: I am a consultant, and the very person who bought my services for 4 months seems to like to talk quite a lot (not a problem), but also reckons that Greenspan "has always been brilliant", and that he's being extremely unfairly criticised now from things he can't help because he's no longer in charge...

I am unable to lie, but I find that I very quickly exhaust my limited repertoire of "really?", "interesting", or "mmm".

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Mon Mar 17th, 2008 at 07:08:50 AM EST
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