"The lenders of last resort have come into save the day," said Scott Richter,portfolio manager with Fifth Third Asset Management. "It's what the marketwanted."
Vancouver Sun, "U.S. stocks rally on bank plan," yesterday.
Fetishism: ...the belief that commodities possess human properties.
4 comments:
The market is unable to make up its mind. Since becoming global, it has become ambivalent.
I don't know whether to be amused or troubled by the fact that the "direct equity in financial institutions" solution (ala the Swedish banking crisis) that so many on the left have favored is--according to those who knew him best--the solution that would have been favored by Milton Friedman--
http://tinyurl.com/6qarks .
FETISH!
Commodity Fetish?
Warm Leatherette?
I fear we may inadvertantly change the subject.
Post a Comment