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Libor Or The Tango Of White Hot Hate

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by Felix Salmon
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Oct 27 2008 11:57am EDT

Libor, or the Tango of White-Hot Hate

The exegesis on the global financial crisis that you've all been waiting for has finally arrived. Ladies and gentlemen, I present to you the incomparable Bernard-Henri Levy:

One recalls "Leviathan," Rousseau's "Social Contract," de la Boetie's "Discourse on Voluntary Servitude"...
What is a social bond and how is it broken? Voila. Here we are. This debacle, this shipwreck, is showing us the answer...
Is man a predator of man? Does the fear of this predator slumber within us? ...Consider the tango of white-hot hate that has been discreetly called the "drying up of interbank credit."...
You start off with a financial crisis, then the whole cloth begins to unravel little by little: At the beginning you have a terrified crowd, and at the end, a lynch mob.

I knew BHL was rich, but damn he must have lost a lot of money this month.

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