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in "looting"--i made a thread about it a little while ago--the argument is that deposit insurance eliminated "moral hazard" at the level of banks which involved themselves in this lunatic trade in debt securities---but i think compartmentalization at the level of organizational culture was more important. that and the assumption that these devices would stay in motion.
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a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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