When something is unproductive, overpriced or unhealthy, markets shift capital away. That is a good thing.
A market is like a human body in trauma. It moves the blood away from the toes and preserves it for the heart, brain and lungs.
However, the institutions that made this messthe likes of Goldman Sachs, Sullivan & Cromwell, The Carlyle Group, and the academic institutions that give them air cover and many moreare now persuaded that a financial system that no longer trusts them needs "fixing" and they are the men for the job. They want to show us how we can shift more blood out of the heart, lungs and brain and into the them and their fellow toes.
Saturday, March 07, 2009
Make em sick and give em the cure
by Curt Spang