

We are all Japanese now - sridharvembu
http://blogs.zoho.com/in-the-news/we-are-all-japanese-now/

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peakok
Good post. It is also the end of the anglo-saxon "know it all" diktat over
finance. It was unthinkable a couple of months ago that New York and London
would suddenly disappear from the map of global finance, bringing down with
them the whole world of investment banking and its rules. It'll eventually
come back, but it'll never be the same.

Still, it is puzzling why the United States are keeping the people who led
them into this mess in position. Historically wise, there is absolutely no
reason to expect them making good decisions of all the sudden. On the
contrary, it fuels an aura of suspicion (biaised interests, corruption, lack
of competence, ...) that is prejuciable when you need the other countries to
trust you. Isn't it time to make room for the people who got it right and have
the kind of global vision necessary to lead during such a crisis ?

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anamax
> Still, it is puzzling why the United States are keeping the people who led
> them into this mess in position.

Which people do you have in mind? Surely you're not suggesting that the Dem
party leadership take a fall.... (They're the ones who protected
Fannie/Freddie and pushed the "no-money needed"loans. The vast majority of
Wall Street campaign contributions went to Dems for a reason.)

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MaysonL
And again... how many Freddy/Fanny consultants and lobbyists does Senator
McCain have on his campaign staff? (Hint: start with his campaign manager and
work down).

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Spyckie
needs much more on the parallels between Japan's economic bubble of the 80's
and the current US bubble - been looking for some commentary on this. Still,
good post.

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sutro
Great post, Sridhar.

