You only thought you heard the fat lady sing. Not this morning.

At memeorandum this morning, an Atlantic Online article from Simon Johnson, one of the prescient economists to whom no one listened until their own certainty in their rightness marched a nation – and a world – to the precipice. He says it’s not looking good for us because political will is failing; and we haven’t even locked the barn door yet.

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government . . . recovery will fail unless we break the financial oligarchy that is blocking essential reform.

Probably not the most pressing concern of our troops in Afghanistan, where it is the 200th day of the War there.

3 responses to “You only thought you heard the fat lady sing. Not this morning.

  1. …and as one columnist said, when that industry shorted the housing market, they in effect shorted the whole country.

    Bet for disaster and push it of the cliff.

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    • Just came back home from various errands and the Senate is discussing the finance reform bill. Ted Kauffman, the Delaware Dem who’s serving out Joe Biden’s term was speaking when I got here. He’s just superb – apparently was Biden’s chief of staff for years. Knows his business inside out. And since he’ll only stay in the Senate till 2010 election (he’s been clear that he won’t run), he’s straight.

      Kaufman doesn’t need to raise money – and because of that, we get a glimpse of what a real uncompromised Senator could look like.

      Sigh . . . .

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      • Guess what – I got a glimpse of that too! We do have shared scheduler.. And I watched Dodd getting emotional.. He seemed so chummy with Shelby at Meet The Press sunday, and now it’s a 41 gops saying no again..

        But Kaufman seems like a good man – and lots of interesting political stuff these days.
        Hearings tomorrow – could be interesting. GS on the bench.

        Did you see that Lehman guy explaining selling the house to his wife for $100? That’s a hundred bucks. Right after the 08 crash.
        “A natural internal private balancing of marrital affairs, as my wife sold some of her art. Comletely unrelated to anything.”

        More silence in the room.

        Like

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