On Wed, 16 Jul 2008 11:36:20 -0700, "John R. Carroll"
wrote:
snip
The situation was only viewed from the perspective of the investmant
community. No thought at all was given to the fundamental nature of the
changes being made in spite of the fact the the exact nature and mechanics
were very well understood.
snip
=========
A very clear and precise statement of the problem.

Where do we go from here (other than over the falls in a barrel)?

Much of the "money" involved has disappeared or never existed in
the first place, leaving the rest of us to clean up their mess.


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).