voltimand – “inequality is good, inequality is what makes the world go around, inequality is inevitable and therefore the notion that I am ‘guilty’ of favoring ‘inequality’ is like charging me with being guilty of favoring a system that creates wealth for everyone but never creates equal wealth for everyone.” — Where is that quote from? It exactly states the necessary fundamental condition for all economic activity, like pressure and temperature variances causing weather.
Inre: the markets, this is the first time I’ve heard someone talk about what’s REALLY going to be required — getting derivatives out of the banks (not that I think the mechanism should be the gov’t buying them!):
Crisis Won’t Be Over Until We Tear Up Credit Default Swaps
And, (in a real life playing out of that great scene in Apocalypse Now when Martin Sheen grabs the scared soldier in the trench by the bridge that is rebuilt by the U.S. every day and the V.C. blow up every night, and asks, “Who’s in charge here, Soldier?!”, to which the shocked reply is, “Ain’t you!?!”) in case you haven’t read Michael Lewis’ explanation of how clueless even the people at the top have been:
