13 hours ago
Thursday, October 23, 2008
Greenspan: Wherefore Art Thou, Capitalism?
Oh man...the Oracle, himself, is shellshocked about the collapse of the free market system, calling it a "mistake" in his views that banks would be more prudent in their lending practices. Self-interest gets body slammed by irrational exuberance...don't we, then, risk further moral hazard by bailing out the markets? If they no longer have to worry about pricing in the risk of failure, it seems to me that there is little reason to expect rationality any time soon.
Subscribe to:
Post Comments (Atom)
Posts
1 comments:
Pedantry Warning As is clear from the context of Juliet's speech (Act II, scene ii), "wherefore" means not where but why, hence the absence of commas in the original. Were Baron Alan Greenback poetically inclined, he might prefer to go with Milton's "Whence and what art thou, execrable business practices?", or Marlowe's "Why, this is recession, nor are we out of it".
Word Verification" oveles, small Yiddish eggs.
Post a Comment