Sunday, December 19, 2010

Krugman's Lament

Wall Street Whitewash:
In the end, those of us who expected the [GFC] crisis to provide a teachable moment were right, but not in the way we expected. Never mind relearning the case for bank regulation; what we learned, instead, is what happens when an ideology backed by vast wealth and immense power confronts inconvenient facts. And the answer is, the facts lose.


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