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October 13, 2008

European Schadenfreude.

For a week or so, anyway. London's The Economist, America's tough but appreciative new Mom, ran this gem on October 1, which begins:

One by one, European leaders have lined up to hail the triumph of welfare over Wall Street. “The idea that markets are always right was a mad idea,” declared the French president, Nicolas Sarkozy. America’s laissez-faire ideology, as practised during the subprime crisis, “was as simplistic as it was dangerous,” chipped in Peer Steinbrück, the German finance minister.

And then Europe had a really bad week last week.


Photo: "Statue Garnier" by M. Daniel Schteingart

Posted by Holden Oliver (Kitzbühel Desk) at October 13, 2008 12:07 AM


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