Zeev's Turnips Talk Politics (ZTTP)

[budge]

depends on which 'c' word you're talking about.

and as far as new global banking governance, it's been coming for a long time. as everything gets linked, we are all vulnerable to the actions of others. this crisis has exposed what extremes will be tolerated by some and what the eventual price is exacted from us because of it. i would bet that the most important things that can be done are a limit on leverage, isolating the lending institutions from rating agencies, eliminating this stupid 'mark to market' crap and substituting independent evaluation proceedures.