Belmont Club

By Richard Fernandez

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The Library of Babel

August 18, 2008 - 5:53 pm - by Richard Fernandez
slade
2008-08-19 13:52:53

And that’s not to mention that second tier cost of deregulation, which is the unfunded pension plans that are dumped into another Government-Sponsored Entity when unregulated competition forces the players into bankruptcy – airlines and utilities. This will be bigger than S&L crisis. Socializing the cost of doing business it’s being called. That’s not far from the truth.