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November 17, 2008
I've been bogged down all day writing a paper. I saw this cartoon early this morning in The Times and it bought a smile to my face.
Gerald Scarfe
Great image huh? It represents what the leaders must have felt as the investment banks failed to the point where there was the very real possibility of systematic failure. The official line, of course, was very optimistic, almost to the point of denial of what was happening. Then the illusions faded---financial capitalism was having a major seizure.
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