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Panics, like the Panic of 2008, are regular events in non-regulated financial systems

A fact which is conveniently forgotten too soon after the previous panic...

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Sun Oct 26th, 2008 at 05:06:53 PM EST
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