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February 11, 2009



It's an interesting concept, building wealth. I think it's more literal than some people think.


I went to a less "powerful" school then you, but even there, when I tried to talk to my securities law professor about the problems with the irrationally exuberant market (this was in 2005) and the fact that the securities laws (with its particular reliance on the efficient market hypothesis) would indubitably magnify rather than temper such bubbles, I got a little pat on the head and a "you'd understand if you knew more about finance".

Geithner reeks of the same condescension.


Pretty much, I think. And even if he's getting some of that condescension smacked out of him right now, I really don't think he can figure out where else to turn for ideas. Heaven forbid he should rely on a little common sense...

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