Thursday, 16 October 2008

The revisionists have already started

At LEAP's excellent rally on Monday evening it was pointed out that, although the general consensus seems to be that market economics have failed, the revisionists would get to work on the story pdq. In Wednesday's FT: "As the markets breathed a sigh of relief, some were starting to ask whether a large-scale injection of govbernment capital was really necessary." (Financial Times Wednesday October 15th). And on Thursday the banks are trying to wriggle out of the conditions imposed by the government, so they can continue to pay their shareholders dividends.
They never learn.

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