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The biased legal system lets bondholders make extortionate demands against workers, poor countries, …. President-elect Clinton learned how bond markets can even intimidate the government from exercising reasonable policies. So, with a bit of schadenfreude, I am glad to learn that Blackstone has the right to screw bondolders. Why should Blackstone have more rights than ordinary people? Why can’t we organize to put some limits on the untrammeled power of financial markets, including that of Blackstone? More at: http://michaelperelman.wordpress.com/2010/08/17/screwing-bondholders-ending-bondage/ -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com ________________________________________________ Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
