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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (24346)	1/10/2005 4:11:50 PM
From: regli	Read Replies (2) \| Respond to of 110194

Elroy, you make an excellent point about Switzerland. The Swiss system is not very efficient as most (though not all) major decisions are voted on by the electorate via referendums. This, in essence, turns the legislators into consultants to the people advocating theirs or their respective parties’ views for the upcoming vote. It removes a huge part of the deal making that takes place in the U.S. that has such a corrupting influence. Similar to California, the Swiss voters’ financial decisions haven’t always been very prudent and even Switzerland is facing the harsh reality of having lived above its means.