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The idea that we re obligated to deal out speculators and not allow markets to go down, it s the worst sort of moral hazard that began under greenspan and it s just got progressively worse. oh, i agree with that. but politically, this administration can t afford to have that happen going into an election year. you agree with that, barry? that there s a political motivation to avoid the debt restructuring and the bank restructuring that really needs to be debated, because whoever does, it s not going to win next year. you know, the politicians in the united states have run into the exact same problems that the ceos in the country have run into, which is a horrific form of short-termism. and everybody is focused on the next quarter s earnings or the next two-year election cycle. and so no one s willing to make the difficult choices, the long-term investments that have to be made. you know, if we had this attitude during world war ii, we would have lost the war. hey, i can t make th ....

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