We vaporized 60 percent to the shadow banking system, the SIVs and CDOs, the people who actually bought US mortgages, who bought student loans, who bought credit cards, who bought car loans. That’s gone and it’s never coming back. As we’ll see, it’s going to take well into the next decade for us to create a completely new infrastructure to replace the broken one.

Do the world’s top finance ministers happen to be closet Taipan Daily readers? If your response to that question is “yeah right,” then don’t worry. That’s our response, too. And yet, the movers and shakers appear to have taken a cue from these pages.