A piece well worth reading if you care about the current economic “situation”:
Sensible reform cannot avoid causing significant pain, which is worth enduring to gain extra safety and more exemplary conduct. And only when there is strong public revulsion, such as exists today, can legislators minimize the influence of powerful special interests enough to bring about needed revisions in law.
How We Can Restore Confidence
By Charles T. Munger
Wednesday, February 11, 2009