New Comments

Several new comments.  First, over at Credit Slips, I commented on how Chapter 11 is a fail train for small business reorganization because of the hammerlock lenders force on small businesses.  Next, a pair over over at Naked Capitalism.  First, a reply to Calgacus's claim that Right historically wins over Might (My experience is that Right has won a few battles, but Might keeps winning the wars.).  Then a comment on Lambert Strether's article on deflation noting the historic uses of deflation to protect the 1%.

Only So Long I Can Hold My Tongue

Adam Levitin posted a great piece on Credit Slips ripping on proposed "solutions" for the financial crisis (And yes, kiddies, regardless of the pablum they're shoveling your way, we're still in a crisis.). Basically, he compares these proposals to prescribing an aspirin to someone with a knife in his chest and then giving the aspirin to the attacker. First comment out of the box blames the mess on those evil, nasty borrowers. To quote the Interweb meme, "Don't know if trolling or just stupid." Probably a shill, actually. Anyway, I and a few others declared a free-fire zone. Enjoy.