Financial Times FT.com

A system overwhelmed by innovation

By Clive Crook

Published: October 12 2008 18:50 | Last updated: October 12 2008 18:50

The stunning scale of the interventions under way in financial markets – barely imaginable just weeks ago – make it seem that nothing will ever be the same. A crisis so grave, so weighted with ideological implications, must point to a grand political realignment, with much of what we thought we knew about the role of governments and markets overthrown. So it is argued, and so many people hope.

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