richard lyon
 

Posted August 7, 2011.

James Galbraith:

This is the diagnosis of an irreversible disease. The corruption and collapse of the rule of law, in the financial sphere, is basically irreparable. It’s not just that restoring trust takes a long time. It’s that under the new technological order in this field, it can not be done … And therefore there can be no return to the way things were before. In other words, we are at the end of the illusion of a market place in the financial sphere.