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High Finance Run Amok [latimes free reg req] is a Kevin Phillips editorial on the "financialization" of the US economy. "As the financial sector, in short, became too important to fail, the Fed and the Treasury abandoned market economics to embrace socialization of credit risk. No other sector of the U.S. economy, save possibly defense, received such governmental assistance."
posted by electro on Jun 24, 2002 - 13 comments

The need for an economic stimulus bill appears to have taken on new urgency, now that the recovery is already underway. I'm glad both parties found enough irrelevent stuff they wanted to pass anyway that they could get a bill through.
posted by electro on Mar 8, 2002 - 1 comment