Quote of the day: the spoils of easy credit

“The ‘Neutron Loan’ – Designed to remove the occupants but leave the property intact. Within the next year over a million American home mortgages are due to foreclose. In August 80,000 people were ‘displaced by violence’ from their houses and neighborhoods in Iraq; another 2.2 million Iraqis have been obliged to flee the country.”

Lewis Lapham, in the November issue of Harper’s Magazine (column available to subscribers only). Lapham draws a series of parallels between “the speculation floated on the guarantee of easy money on Wall Street and the one puffed up on the promise of certain victory in Iraq.”

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