hawks win

[Carl Remick]

Re Peter's:  "The House Banking Committee chairman Rep. Jim Leach,
R-Iowa, said the
Fed-led rescue raised 'troubling questions of financial concentration
and
antitrust.'  And 'The bailout may involve a tendency toward
concentration that the
Justice Department has an obligation to review."'

The media were burbling this a.m. about the Banking Committee's lack of
customary deference to the Great Greenspan.  This behavior from a group
not renowned for its Profiles in Courage surely validates the idea that
the jig is up for free-market economics.
My favorite remark from the G.G. yesterday was:  "Indeed, most hedge
funds are only a short step from cyberspace. Any direct U.S. regulations
restricting their flexibility will doubtless induce the more aggressive
funds to emigrate from under our jurisdiction."

Doubtless.  You can't grab ahold of  those traders, they're only pixels.
John Meriwether as Max Headroom -- I love it!

Carl Remick