It is amazing how the times are a changin'. Who could dream of the household names that are dropping like flies. GM, Citigoup, BofA, General Electric? How can this be?
Most of us were taught by economists with bow-ties that the markets have built in protections. They just did not notice that one company (AIG) was insuring all the risk with no collateral. Each generation of bow-ties reaches a tremendous level of arrogance.
The woman can feel the birth pangs... and they are starting to come more frequently, and with more intensity.
We have a Progressive government that is determined to drive Capitalism in to the history of text books. The text books that they will write. We need a politician that is willing to fall on the sword, one that will make a tremendous uproar on the floor of congress. But, I must be truthful and say that it would not really matter. People now call 911 when they don't get Chicken Nuggets.
