CHAPTER 28Fear Is Where the Power Is: The Politics of Credit-Default Swaps
November 2008: The situation was dire. But was it ever really an apocalypse? Everyone was conditioned to think that without government intervention, a waking hellscape of crappiness awaited. And it continues. Over and over we are told of being just a step away from U.S. government default if someone dares fiscal sensibility. Or some variation of a bank implosion, or everyone going into foreclosure immediately, or some other equally horrible catastrophe. These outcomes are debatable, and they deserve to be debated. Everything that happens in the future is debatable.
What is not debatable is that we continue to be threatened with imminent doom if politicos don’t get what ...
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