The crisis will leave many casualties. Particularly hard hit will be much of today’s financial risk-valuation system, significant parts of which failed under stress. Those of us who look to the self-interest of lending institutions to protect shareholder equity have to be in a state of shocked disbelief. But I hope that one of the casualties will not be reliance on counterparty surveillance, and more generally financial self-regulation, as the fundamental balance mechanism for global finance.
Gee -- y'think, Alan? Do you think -- just possibly, just maybe, just as a matter of possible consideration in this whole mess, do you think
Paying people to take out loans was a reason for the mess, you jackass?
