>The Bubblemeister's constant protestations of impotence are particularly
>interesting: can't do anything about margin debt, can't do anything about
>derivatives, can't do anything to control who the banks lend
>to...Seems to be a
>standard reaction in very powerful institutions l;d by very
>incompetent people:
>pretend you are powerless, and that way you won't be expected to act.
Incompetence - or fear? Fear of what happens if/when the bubble bursts, and not only economically. What would the political fallout be from the 20-30% of U.S. households who just got their feet wet in the stock market over the last several years? What would happen to the prestige of U.S. capitalism, not to mention capitalism itself (which the bourgeoisie curiously feels the need to advertise on behalf of these days), on a world scale? Gotta wonder sometimes why the guy didn't follow Rubin's example and leave.
Doug