17 September 2008

money (*)

I seem to remember banging on some months ago about the structural weaknesses engendered by unregulated financial flows and the risks associated with the unfettered growth in complex financial instruments that no-one but their creators could understand. And the additional risks because the creators had no interests beyond their carefully constructed mechanisms.

Now it's all unravelling, there'll be the inevitable overcorrection in levels and types of regulation and we'll all be back at square 1-n.

Around these parts, the one thing that Mrs VVB and I always agree on is that you need someone to blame. Looks like we're not Robinson Crusoes.

Rather than fail at matching the bucketloads of analysis and similar codswallop elsewhere, VVB is pleased to bring you Harry Hutton and his friends' take on it all:

Not a bad idea to fatten yourself up before the second Great Depression starts. I never understood what was great about the first one.


(*) And we also mourn the passing of Richard Wright. What would all we 60s and 70s tragics do at parties without someone to crank out Wish you were here? Or at those parties where the punters never left the 60s, See Emily Play, Interstellar Overdrive and Careful with that axe, Eugene.

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