"cavelamb" wrote in message
m...
Joseph Gwinn wrote:
The title is the thesis. About the author:

Mr. Posner is a federal circuit judge and a senior lecturer at the
University of Chicago Law School. He is the author of the just-published
"A Failure of Capitalism: The Crisis of '08 and the Descent into
Depression" (Harvard University Press).


http://online.wsj.com/article/SB124165301306893763.html

The Wall Street Journal, 7 May 2009, page A17.


Joe Gwinn


Fascinating...

Perhaps, but it's largely nonsensical and in some instances, just
innacurate.
Posner apparently doesn't understand what constitutes a "demand deposit"
account.

He's right about one thing, at least. What we are seeing in the worlds of
finance and economics coldn't have happened without the active and passive
assistance of government.

JC