> [This bounced for an address oddity. I know the author of this
> article, Rick Ackerman. He's been saying this sort of thing since I
> first met him over 10 years ago. Richebacher's been saying the same
> thing since the mid-1980s. Maybe they're right this time.]
It seems that they failed to take into account the systematic socialization of financial risks. I still think that the current bubble is too large for its losses to be effectively socialized.
-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 272 4808 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at ee.cornell.edu Ithaca, NY 14853 http://peta.ee.cornell.edu/~enrique