Monday, October 6, 2008

And so it begins...

...or ends.

If there was any doubt that the US's dominance in this world was coming to an end, the (poor/lack of) management in the sub-prime lending scandal and its culmination (for now) in the Bailout Abomination should erase whatever's left.

And Paulson has wasted no time in bringing a Goldman Sach's buddy into the fray.

Look for more cronyism, and very little in the way of substantive reform...in the short term. And hold onto your pants (if you still have them). We're in for a rough ride!

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