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Banking Crisis Thoughts
Mar. 14th, 2009 02:18 pmInfluence-peddling continues on a bipartisan basis.
But as venal and corrupt as our politicians are, the underlying cause of the banking system failure is not to be found in actions of government; much the same crisis is happening in most countries regardless of their politics or regulatory systems, and it is a thought-virus that caused it. Many actions of politicians and regulators contributed, but it was a false idea that ultimately wrecked finance.
( The real failure.... )
But as venal and corrupt as our politicians are, the underlying cause of the banking system failure is not to be found in actions of government; much the same crisis is happening in most countries regardless of their politics or regulatory systems, and it is a thought-virus that caused it. Many actions of politicians and regulators contributed, but it was a false idea that ultimately wrecked finance.
( The real failure.... )
