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US election

Republican candidate McCain says he will clean up Wall Street. His opponent Obama says that he does not subscribe to the Republican economic philosophy which has led to the unfolding economic disaster. So what are they going to do about what now looks as if it will be the worst economic dislocation since the 1930s. And would they do to prevent a recurrence? They aren’t saying, are they?

But one question that comes to mind is this. Vast numbers of people work in financial services. How many of them are doing a useful and necessary job in directing funds to where they can be used most effectively and how many are just running in what is nothing more than a casino, and imagine that they can create wealth by moving money hither and thither? It will be painful for the individuals concerned, but a shake-out is overdue and perhaps they do not deserve too much sympathy.