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Sep 30, 1998

Wagging the tale

War on markets

The Dow is down and the Duma is out - for Yeltsin's blood. The Japanese have found a prime minister who makes Alan Greenspan look like the life and soul of the party. Somehow there is less of the old triumphalism around. Lots of bankers who brayed over the worldwide victory of free markets are decibelling for bailouts for the bankrupt regimes in which they sank their money. In case you have forgotten how it works, the bankers loaned a lot of money to shaky governments which immediately allowed

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