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Thursday, September 18, 2008 12:00 AM

McCain: How not to explain a meltdown

In a speech on "financial reform," the candidate points the finger at the wrong target.
Andrew Leonard

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  • Thursday, September 18, 2008 01:45 PM

    In the long run

    McCain and his friends claim that markets know best in the long run . And this may be true; the current crisis can be seen as a way for the market to reveal what it knows. But we may not want to learn from the market in this way.

    "Experience keeps a hard school, but a fool will learn in no other" (Franklin). "In the long run, we are all dead." (Keynes)

    —jon Read jon's other letters

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