Friday, February 23, 2007

my crystal ball

I see in the Times that there is a rapidly hedge fund industry and that the Bush administration feels that industry doesn't really need much more to keep it on the straight and narrow than a "set of nonbinding principals."

Which leads to the question: is there a way to invest in future economic scandals? Because if we've got a fast-growing, poorly-regulated industry devoted to playing with money, well, we are going to see people make more and more money until suddenly it turns out there is all sorts of corruptions and things totally fall apart and a bunch of people go to jail.

I don't even know what the hell a hedge fund is, and I only skimmed the article in the Times, but I would bet money on it. It's going to be a mess, but by the time it happens Bush will be out of office and will probably have made a fortune in hedge funds.

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