On Jan 3, 2009, at 1:39 PM, Doug Henwood wrote:
> Do you think that letting them "go to the wall" would have no effect
> on the real economy?
Is there a 'real economy'? Export of wood pulp?
It seems that the point being aimed at is related to a ? that I approached a while back when I asked if (you had an opinion on whether) NYC (and in James view, London) would remain the center(s) of global financial service at the resolution of this fiasco.
Seems to me that Dubai and all the persian gulf crowd are jockeying for position. Hong Kong and Taiwan are well positioned to fill a role in global finance. The problems can only be solved by the players, cause capital is the only regulator that matters.
martin