(no subject)

[johnny9fingers]

Well, Lehman Bros have gone.
The world still turns, but the world's economy looks to be totally fucked.
Those who've followed this blog over the last few years will know that I've been Cassandra-ing about a coming crisis in late capitalism for some time: I rather hoped it wouldn't be quite as huge as it now seems to be.
The big questions now are how big will it actually get?
What will we learn from it?
What regulatory systems will we put in place to limit such things happening again?

Has de-regulation done us any good?

Now that the banks have found structural ways around some of the bad debt (buy up another bank, transfer all the bad debts to the newly purchased bank, and then let it go to the wall, which seems the banking equivalent of the Lloyds re-insurance scandal of the 80's) how will the regulators deal with this?

Well.... Richard Wright has died.
I'm still shitting blood.
Life ain't fun really, excepting for love that is. Thank the gods for love.
 

Comments

Richard Wright - The Floyd's keyboard man ?

[ankh156.livejournal.com]

He played some nice organ parts - mostly on an L100.

Thatcher and Reagan (and ultimately, Milton Freidman) are responsible for this vogue of letting the market decide everything. It's sheer madness. I didn't want it, and I don't want to face the consequences of it now. I don't think it ever did me any good (I was never cynical enough to 'cash-in'), and now it's about to do me a lot of bad. I hope all those (rich) bastards who rode it hard and high all this time fall from a great height and hit the ground very hard indeed.

Have you been for diagnosis ?

Re: Richard Wright - The Floyd's keyboard man ?

[johnny9fingers.livejournal.com]

I have a Flexible Sigmoidoscopy booked for the 9th of Oct.

Fingers crossed.

Some banks however appear to be haemorrhaging even more than I am.