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Filed under: October 2008

Fear, Greed and Silver Linings

It is a tradition on the New York Stock Exchange to invite someone, normally the owners of a newly listed company, to ring the bell signifying a start to the day’s trading. On the Monday morning immediately after financial markets in the US approached meltdown, the bell ringer was a blue blooded Arab sheik adorned in full robe. The China Investment Corporation is already owner of significant pieces of Wall Street. And if the Iranians would just ease up on their nuclear ambitions they too could now buy a chunk of Manhattan on the cheap.

The crashing sounds from Wall Street are a sign of the accelerated unwinding of American-style capitalism run amok. Taxpayers south of the border are ready to load up and take aim but don’t know Continue…

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