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June 17, 2009



Reading Gillian Tett is a treat. In two sentences about AIG she gave me a handle on the financial crisis. Indirect quote 'Derivatives distributed risk. AIG consolidated it again.'

I read that and said "of course". Followed by "How could they have been so dumb ?"

Followed by "Of course they weren't dumb

Followd by "And they never will".

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Some days it is hard to be a conservative.....sigh. It's a shame that when people get into a corporate setting that they no longer feel any moral responsibility. It's probably the biggest shortcomong of unbridled capitalism. I guess I'll go get the book.

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