Tuesday, January 29, 2008

Lesson learned from the subprime mess

If you are going to make a cockup, be sure it's an enormous cockup and the government will bail you out.





And diplomacy:



Trust the British to explain things better than we can....

2 comments:

  1. I'm thinking the whole banking model is kind of due a rethink. Grameen seems like a good thing, but in the long run we're even going to need to think about a new currency. Without gold or oil backing our paper, what is it worth?

    ReplyDelete