Tuesday, March 03, 2009
Right. So the Dow's back to 1997 levels. When you consider the fake dot com boom/bust and resulting mortgage echo boom/bust, this number seems closer to the truth to me. I'm not an economist, but what made all that wealth created, then lost, on a macro scale, any different from what went down with Bernie Madoff?
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Really good This American Life on the banks last week available here. Give a listen.They also have two other great shows on the economic power flush in the archive from 10.3.08 and 5.9.08. Written in a way that even a mathtard like me kinda gets.
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