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"Supreme Court Justice Potter Stewart once said about pornography, “We can’t easily define it, but we know it when we see it”. That is apparently also the case with corruption. It needs to change because as Aldous Huxley said ominously in this case – “Facts do not cease to exist because they are ignored”. The ”fact” of corruption will continue to cast a dark cloud over the operation of our government and financial institutions if we can’t define it enough to control it."
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"We should all listen to the voices of our “gentle ghosts” at least a little more in 2012 than before. Have a happy and fulfilling New Year"
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“Somehow, somewhere, the backing of formerly mainstream business organizations provided to candidates and organizations whose platforms were thought to thrust toward “limited government” morphed into backing for “knuckleheaded” politicians who interpreted this support as a license if not a mandate to abolish all regulation, all taxes and most government.”
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“The shifting of economic risk has been successfully undertaken. Dodd-Frank was and is not so much an attempt to shift risk back to the corporate sector as it is to reduce it quantitatively by regulating it.”
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"The phrase “crony capitalism” has not yet been defined by either Representative Bachman or Governor Palin. I will therefore suggest that Katie Couric be recalled to ask both of them what it means and that neither candidate be permitted to use the phrase again until she has responded to Couric’s inquiry with an answer that is coherent and consistent with well settled principles of law and economics."
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