Thursday, October 09, 2008

Panic of '08?

Any TWR readers out there remember Paul Erdman's 1986 finance-thriller "The Panic of '89"--about a conspiracy of Latin Americans, Central Europeans, Arabs, terrorists and the KGB to bring down the U.S. financial system--and in so doing force America to retreat from its global posture?

The book intermixed fictional and real personages. After the main character brokers a solution that addresses many of the interests of the leading countries, the book ends with Raisa Gorbacheva telling her husband that the secret to success is contained within the proverb, "Ruka ruku moyet" (One hand washes the other)--e.g. you find a community of interests to hold the major players together.

An interesting re-read in light of today's developments.

Don't forget "The Crash of 79"; it is worth an honorable mention!
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