I keep seeing on TV the sequence of politicians that, to their dismay, condemn the greed of the financial executives. How could they have done such horrendous actions? they ask. We need more regulations. We need new agencies. We need to spend more to fix the problems.
The reason I am baffled is that I do not know how to answer this simple question. What were they doing in Washington when this bubble was in the making? Weren't they supposed to be in charge of our affairs? How can we trust the people who were in charge when the bubble was growing to solve the very problems they helped creating?
The philosophical answer is: that's the way the world works. If you do not like it go and hide yourself on a sunny Caribbean island. The altenative is to fight it the best you can.
Happy New Year to all of you and thank you for visiting this blog.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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