Tuesday, September 23, 2008
Monster of Market Malfeasance raises its savage head to devour the U.S. economy
Our shared nightmare: Rearing up from the Sea of Financial Atrocities while illuminated by the dark glow of an ocean of red ink and burning sulfur, the Monster of Market Malfeasance is raising its fierce head and threatening to devour the entire U.S. economy. Treasury Secretary Paulson has proposed setting out a nice trillion dollar meal for it (at taxpayer expense) and asking it to be nice. Not likely, not without more effective controls than Paulson proposed. It's likely to keep chewing its way through the financial marketplace until eventually everything, down to the last credit default swap, simply collapses of its own weight.
(Note: Madisonians may recognize the head of one of the Dreamkeepers, the scrap metal sculptures on S. Patterson St. by the artist known as Dr. Evermor -- captured in a 9-second handheld time exposure.)