Saturday, September 20, 2008

tectonic shifts in The Estate

Like every news junkie (I imagine), I'm fascinated by what's happening this month to Wall Street.

I don't think that the financial crisis is a fundamental (structural) economic event (though a severe credit crisis has a recessional—viscous—domino effect). It's a milestone for democratic capitalism—what I call the fairly free market. More fairness (public protection) is coming to the U.S. market.