CD "Bailing OUT' talk of the day, not only in the US...-

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THE WHOLE THING IS THAT…

Some would say corruption is the cause. But that is a symptom of an even greater malaise in governance:

The compulsion to get rich quick, to achieve growth at any cost even if it subverts democratic processes and mechanisms; the growing impatience with regulatory frameworks that are viewed as inhibitors to growth, the inability to distance the practice of regulation from its intrinsic need, the incapacity for ‘reforms’ that can match practice to need.

Quick-fixes, short-cuts can get you off the cliff edge. In the meantime, the policymaker can fool some of the people some of the time to be sure, but he can fool himself all the time.

UQ

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Published on Tuesday, January 8, 2013 by Rolling Stone

Secrets and Lies of the Wall Street Bailout

The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come

by Matt Taibbi