[EMAIL PROTECTED] wrote:
> I also believe that this type of write-downs may happen faster now. But who > will be that somebody who will have to eat the losses after the write-downs? > Is this not also important in the nature or speed of the recovery? > > Best, > Sabri Oncu It's the people holding the liabilities of the corporations to be re-structured that will have to eat the write-downs. And that means this is largely a question of intra-class struggle amongst members of the bourgeoisie. Half of households have never held any of a corporations' liabilities, and the most wealthy ten percent of households hold 80 percent of such liabilities. Why do you think the write-downs can come too fast, Michael? As I said, I see the danger of stagnation as resulting from them coming to slow. Very Best Wishes, Edwin (Tom) Dickens
