Under The Bed, Looking for Matches

I take a couple of weeks off and on the first day the world’s financial system goes into meltdown. Again! Well, it’s not up to me to sort out the mess: I’m on holiday.

Dean Baker is on the case, and he knows who to blame though:

He was the one who choose to ignore the abusive lending practices in the mortgage industry that became widespread under his tenure. He was the one who chose to ignore the growth of an $8 trillion housing bubble.

When he said that, “This is a once-in-a-half-century, probably once-in-a-century type of event,” it might have been worth pointing out that he was the arsonist who created the conditions for the extraordinary set of events hitting Wall Street.

When the lessons are finally drawn up on this one, I’m guessing one of them will be ‘don’t hand over control of your banking system for nearly twenty years to an Ayn Rand devotee and treat him/her like a sage’.

Anyways, here’s Lighting Fires by Grant McLennan. I have checked its suitability as an accompanying soundtrack to watching stock markets tumble, and it works perfectly.


3 Responses to “Under The Bed, Looking for Matches”

  1. 1 Seán Báite September 17, 2008 at 7:09 am

    Mr Green, you might have checked the suitability of poor auld Grant McL’s song – but you didn’t check your Ayn Rand reference link..
    Not very professional leading us down blind alleys like that – even if you’re on your hols..

  2. 2 Hugh Green September 17, 2008 at 12:16 pm

    Unprofessional indeed. I shall beat myself with a stick until performance improves.

  3. 3 Seán Báite September 17, 2008 at 8:37 pm

    Well even pros take hols from time to time… Thanks for the Grant McL track in any case and ye can put the stick down now.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

I on Twitter

September 2008
« Aug   Oct »

%d bloggers like this: