But I'm a bit worried that a bunch of other people who probably, to be honest, have no idea either have concluded that the MF Global bankruptcy is no biggie.
In any case, it's a reminder that the current International Great Casino is almost entirely about betting on just who will or will not be bailed out by governments and central banks. Betting on what central banks are going to do is always a part of this stuff, but in "normal times" (remember them? me neither) that's about betting on whether they're going to raise or lower rates by 25 basis points. But now the bets are about just where the free money howitzer is going to be aimed.
Late capitalism is surely grand.
