This week’s (7 Feb 2009) issue of the ‘Economist’ magazine has a brilliant cover story — not about the emergence, but rather, the return of economic nationalism led, unfortuantely, by the former Bush administration’s penchant for protectionist ‘bi-lateralism’. It’s an interesting peice set in context of an emerging consensus on Capitol Hill that weak money-center U.S. banks must be recapitalized, while financially dysfunctional “zombie” banks ought to be nationalized, cleaned-up and resold to investors for a tidy profit to a cash strapped federal government. Hmmm… See pg 68-70. (http://www.economist.com/opinion/displaystory.cfm?story_id=13061443)
