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Good post. It is also the end of the anglo-saxon "know it all" diktat over finance. It was unthinkable a couple of months ago that New York and London would sud
by peakok 18y ago
Good post. It is also the end of the anglo-saxon "know it all" diktat over finance. It was unthinkable a couple of months ago that New York and London would suddenly disappear from the map of global finance, bringing down with them the whole world of investment banking and its rules. It'll eventually come back, but it'll never be the same.
Still, it is puzzling why the United States are keeping the people who led them into this mess in position. Historically wise, there is absolutely no reason to expect them making good decisions of all the sudden. On the contrary, it fuels an aura of suspicion (biaised interests, corruption, lack of competence, ...) that is prejuciable when you need the other countries to trust you. Isn't it time to make room for the people who got it right and have the kind of global vision necessary to lead during such a crisis ?
- mtw 18y ago"Isn't it time to make room for the people who got it right and have the kind of global vision necessary to lead during such a crisis ?" I don't see any other country doing that apart from the United States. Maybe power is going to shift a little bit to China since they are the world's lender, but apart from that, i can't envision new changes coming
- anamax 18y ago> Still, it is puzzling why the United States are keeping the people who led them into this mess in position. Which people do you have in mind? Surely you're not suggesting that the Dem party leadership take a fall.... (They're the ones who protected Fannie/Freddie and pushed the "no-money needed"loans. The vast majority of Wall Street campaign contributions went to Dems for a reason.)
- MaysonL 18y agoAnd again... how many Freddy/Fanny consultants and lobbyists does Senator McCain have on his campaign staff? (Hint: start with his campaign manager and work down).