Are you sure about that, Jim? About the rich being more heavily into stocks?
Remember the account of Clinton getting warned about the importance of pleasing the bond market? Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Jim Devine Sent: Thursday, September 18, 2008 12:40 PM To: Progressive Economics Subject: Re: [Pen-l] Re: financial melt-down Marvelous Max wrote: > In addition to Fr Devine, I think it's political and legal. > Bonds get to stand in line in front of stocks by contract, > and the bond market is much bigger than the stock market. that's true, but rich people are more likely to own stocks than bonds and they have disproportionate political power. -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
