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The "voices of the elites," Wolf and Kaletsky regretfully inform us that we need a bigger bubble before finance can be tamed...
by Metatone (metatone [a|t] gmail (dot) com) on Thu Jul 10th, 2008 at 11:23:44 AM EST
There is a chance that this bubble is it, though Kaletsky and Wolf downplay that possibility.

But re-regulation will be useless unless we get a crop of reformists in charge of economic policy who actually believe in economic policy rather than "the market will provide".

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Migeru (migeru at eurotrib dot com) on Thu Jul 10th, 2008 at 11:34:57 AM EST
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