"Des waerelds doen en doolen, is maar een mallemoolen,"

"Des waerelds doen en doolen, is maar een mallemoolen," engraving from Het Groote Tafereel der Dwaasheid, 1720.

"The actions and designs of the world go round as if in a mill." South Sea bubble financial crisis.

Wednesday, January 26, 2011

The Politics of reports

The Financial Crisis Inquiry Commission will issue tomorrow its final report which puts the blame mainly on Wall Street, says the FT. The book-length publication is however endorsed only by Democrats. A dissenting explanation is planed to be published by Republicans, while another Republican commissioner will issue a third one, focusing on the role of the government in the housing market.

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