I came across this nugget somewhere on the ‘tubes’.
Elizabeth Warren, chairperson of the Congressional Oversight Panel on Tarp, has said (as paraphrased by Jon Stewart):
“Capitalism without bankruptcy is like Christianity without hell.”
After a weekend of more platitudes, evasions and inadequate analysis from our politicians, it is refreshing to come across someone who sees things clearly and can express them succinctly.
I will be writing less on financial matters from now on, having discovered the TrueEconomics blog of Dr. Gurdgiev. Great analysis and good writing – what more can you ask of a blog.