Eugene David ...The One-Minute Pundit |
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Friday, September 26, 2008
If the Credit Immobilier disaster has had any salutary effect it's that it's reinforced our hatred of the Wall Street-Beltway axis, which has returned the favor by being more self-centered and fraudulent than ever. That small banks in the hinterlands seem to be doing quite well points to the effectiveness of distance. The hinterlands will do fine. Of course our superiors can overcome distance to ruin us all, but it is more difficult against a vigilant and sensible public.
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