Thursday, April 9, 2009

One was not enough

Stirling Newberry:
"It is the death throes of empire: when the powers that run it try and save themselves from catastrophe, at any cost.

Any cost, that is, except relinquishing their own system of power."

Paul Krugman, writing on the dim prospects for banking reform: ". . . the current crisis won’t be a one-time event; it will be the shape of things to come."

One perfect storm was not enough.

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