And international financial activity will remain sluggish for some time because multinationals are not, in general, indulgingin the global empire-building that gave the City so much work in the good times.
Anyone who thinks this was just a minor problem and everything would have been fine if we let everyone go broke is not thinking straight and is indulgingin reconstructive thinking after the fact.
Thinking that we can just mandate higher wages or better working conditions as if we were waving a magic wand and thereby reduce poverty is indulging a belief in magic, not science.