[lbo-talk] Endgame in the banking sector

Eubulides prince.plumples at gmail.com
Mon Sep 15 11:53:13 PDT 2008


On Mon, Sep 15, 2008 at 11:17 AM, boddi satva <lbo.boddi at gmail.com> wrote:
> Well, of course William Poole resigned in March, so I guess it is you who
> needs to catch up on reading, not I.

===================

Well I don't read the newspapers and I have even less of a sense of humor than you do; I was shocked, simply shocked when Poole resigned.


>
> Poole also said that Fannie and Freddie should be liquidated and that it was
> unfortunate that we could reasonably expect the government to rescue them.
> He's a laissez-faire lunatic who has gotten the entire credit crisis
> empirically wrong because he's blinded by ideology, as has the rest of the
> Administration.

==================

Of course you're the only one who isn't blinded by ideology, especially not by the blinkered old institutionalist ideology that pointed out the contradictions and historical inacurracies of so-called laissez faire decades before you and I were born.
>
> I have no idea what point you are even trying to make other than trying to
> gainsay that which is tru eby any reasonable definition.

================

By any reasonable definition I'm aware of, laissez-faire is an incoherent political theory, though the lunatic charge vis a vis Poole is a ridiculous ad hominem that adds nothing to the discussion. And time is too scarce for me to send you a bibliography of stuff to support my claim--you can look the references up in the lbo and pen-l archives as I've posted them in the past.

Yours in blindness,

Ian



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