Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
It seems like looking at a drunken teenage driver that has driven a sports car into a ditch, and saying that the solution is to give them a 4-by-4 so that if they drive into a ditch they can keep driving.

I think that the problem is one of appropriately reconnecting the political to the economy.  Your analogy illustrates the problem when you use a drunken teenage driver as the protagonist. It was not drunken teenagers that got us into this mess.  It was sober captains of finance that did.  They may be better analogized as pirates masquerading as investment bankers, regulators and real estate brokers.

If what they did is not illegal, it should be.  But I find it inconceivable that many laws were not broken.  The problem has been political: a lack of will to enforce laws on some of the most powerful individuals in our society.  (That will may be emerging in the form of rage amongst the general population.)  

This lack of will was, IMHO, partly enabled by the presence in our population of a large number of traditionalists who see  business and political leaders in the context of strong fathers.  Calvinists will always tend to defer to the wealthy.  To them the fact that these folks are wealthy is a justification of their claims of authority, per se.  Finding ways to reduce the incidence of that mindset amongst the next generation will be the best insurance against a recurrence of this type of crisis.  With a substantial  majority of people who function as self aware adults rather than as manipulable children such shenanigans would me more difficult to sustain.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Sep 23rd, 2008 at 04:15:12 PM EST
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