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    4,000..., 2008-03-23 20:51:51 | Main | don't stop believing..., 2008-03-24 07:48:13

    you are in a twisty machine of complex instruments, all alike :

    or, the NYT being informative:

    the New York Times piece today bearing the hysterical title "What Created this Monster?" There is a reference to "complex instruments that lurk in the financial shadows"; "a potential epidemic"; "Wall Street's version of nitroglycerin"; and so on. You get the idea. And yet for all this lurking epidemic in the shadows, there isn't any attempt to explain any of it, almost as if touching it might cause something to detonate. And yes, in another NYT story today there is a reference to 9/11 and the idea that extraordinary times demand extraordinary measures.

    We are back [to Rumsfeld's] "known unknowns" and "unknown unknowns", where the past incompetence of the authorities serves to bolster an atmosphere of panic that can be used to dis-enable public scrutiny and the taking of responsibility, and let these same authorities adopt even more drastic and unexamined policies.

    I started reading it myself, honest, and when complex shit started lurking I ran away. It was easy, though, because our pockets were lighter.


:: posted by buermann @ 2008-03-24 01:14:30 CST | link





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