This morning, I glanced at Robin Ramsay's quasi-blog "A View From the Bridge,"
which he rather perversely delivers in pdf form, I guess because he likes traditional footnotes. One of those footnotes reminds us that the Greeks ruined themselves by buying into a screwy derivatives deal offered by our friends at Goldman Sachs.
The derivative bet backfired on the Greek state – or they were conned by Goldman Sachs, depending on interpretation. I would favour the latter. At this level the game is the very smart people persuading the not quite as smart people to sign up to stupid deals.
Emphasis added. If you delete the words "at this level," you will be left with a perfect summary of all modern politics, and perhaps all pre-modern politics as well. Political history is the chronicle of very smart people persuading the not quite as smart people to sign up to stupid deals.
On an unrelated note:
At reader request, I turned off the "Captcha" device which verifies the human-ness of those offering comments. If you are annoyed by Captcha, you have my sympathies. But now, predictably, this blog is being inundated
with robotized comment spam, invisible to you (because I moderate comments) but very visible to your humble host, who has to skim through all of those fake messages -- some of which are cleverly disguised to look like actual messages. Sometimes, a too-rapid de-spamming will result in the accidental sacrifice of a real
contribution from a real person.
So the question is: Do I make things easier for the readers or for myself?