The Unregulated Age of Gilt,
Thanks and Good Bye.
You too John McCain and your sidekick Phil Gramm
I’ve had a few Wall Street or Eurodollar projects over the years. One involved ex-Foreign Sec of USSR at $250m with Shell Oil and other players. I noticed a specialists framework even if super-rich or at the top, a very aggressive crowd of often bright but narrowly focused dealmakers. All the civil behavior was there, charm at times though usually typical bullies. In the main, goals of investment sector players seem almost entirely acquisition and prize driven – an extremely potent drug and not well regulated.
The deregulation days of the last 30 years has been a too-fun sandbox, many yachts and island cabins, many women taken, but not-so-much is left in our communities, on the streets; this ended at LBJ. Now the Street will join Government as scorned and societally inept leaving global states and larger banks, a few great firms and oligarchs too, to flex their muscle.
Will the real Reagan Era finally be understood?
Wall Street Crisis Culmination Of 28 Years Of Deregulation.
No one cog in the federal government’s machine of financial regulation let down the country by failing to prevent the latest shakeout on Wall Street. The entire system did.
“They just haven’t done a particularly good job,” said James Barth, a senior finance fellow at the Milken Institute, a nonpartisan research group based in Los Angeles.
“None was willing to end the financial revelry.”
I think we’ll see a long period of consolidating powers as many of the loose and libertine are swatted down or reigned in. At the end, the shape of world powers will be different. It’s likely I think this period will be writ as the poor legacy of Bush, yet it’s a culture that done it not one self-aggrandizing crowd. The group we’ll see next, maybe with relief, I heard one pundit say today, is All The King’s Horses and All The King’s Men.
As time goes toward the mid-term, I think the USA will accept a cooperating and invigorating role in the global holonomy – groups of stable vector bundles 🙂 – as city by city revises its economy and firms weave true value. The silver lining of the so-called Crash of 2008 is that the neocon revivalists are dead in the water, and good riddance.
In Mao’s day, Party officials were forced to work in the fields as if to force empathy into the leadership classes. Imagine! Suits in the ghetto before their next promotion! It’s empathy that’s needed in leadership on all levels. There’s no doubt this could re-start and re-define an entirely new era of Trickle-Down Economics.
In getting, get understanding.
For me, I wanted to build a balanced person, able across disciplines, with a broad sense of true wealth. I was struck by Robert Heinlein’s character Lazarus Long. There will be many unemployed leverage and trade pro’s learning to do a few more things too.
A man should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently and die gallantly. Specialization is for insects.