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05/05/2009

Comments

Patty

Hi, Laurie,

I have to agree with you and it is so nice to see it in print. Remember "Limits to Growth?" You can't just keep expanding without cost. The idea that everyone can keep producing more and more of everything seems ridiculous to me, but apparently not to the world. How many widgets do we all need?

akiito

In an article today about the bank stress tests, i read this paragraph in the New York Times:

But the big question, which remains unanswered, is whether Mr. Geithner and Mr. Bernanke will in fact confront banks over their risk management practices in a way that regulators have been afraid to do for years, or whether regulators will simply revert to business as usual once the crisis eases.
(http://www.nytimes.com/2009/05/08/business/08stress.html?_r=1hpw)

What? Why are regulators "afraid" of the people of they're supposed to be governing? This just sounds like sheer lawlessness; an anarchy for the rich. At least Vegas has its security cameras and body guards, and those who gamble know that their expected values are always less than the amount they put in. With the bank bailouts, taxpayers (and the Chinese govt) are funding a massive gambling game for the rich that, if won, the benefits will go mostly to the rich, and if lost, the losses will be incurred by the taxpayers.

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