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On Long or Short Capital’s Criminal Liability

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On Long or Short Capital’s Criminal Liability
Topic: Miscellaneous 5:52 pm EDT, May  7, 2009

As the eminent commentators on Force Majeure Thomas Jefferson and Mao Tse Tung observed, “power comes from the barrel of a gun.”

Although some may disagree with Force Majeure as a guiding principle for the regulation of life and business generally, surely it is cause for celebration that the tiresome old Hegelian dialectic (Editor’s note: don’t worry if you don’t know what this means, not even lawyers do) has matured and reached its terminus. There’s no more back and forth and no more evolution of belief systems. Instead, the dialectic is looking down the barrel of an AK-47, trying not to crap its Frankfurt School underpants in its Nietzschean Lederhosen, and is being told to “shut the [bleep] up and eat your [bleep]ing vegetables, if you know what’s good for you.”

Recent examples of the exercise of Force Majeure abound. Just the other morning, a law was passed (aka “a press conference talking point”) outlawing the Federal bankruptcy code. Hedge fund managers dissented, noting that when seniority of debt was outlawed, only outlaws would hold senior debt, to which the White House Press Secretary replied, “that’s *so* true.”

On Long or Short Capital’s Criminal Liability



 
 
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