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Read Liaquat Ahamed's op-ed in the NYT on Sunday, and see if you don't wake up at 3 a.m. with night terrors. Ahamed is the author of Lords of Finance: The Bankers Who Broke the World, which is about how decisions by the economic leaders of the last century led to the Great Depression. In his op-ed, Ahamed says that the current economic meltdown has been catastrophic for the nascent democracies of Eastern Europe and that Europe is too fractured to exercise the political will to rescue them. As you cast your mind back over the 20th century, you will recall that European economic instability has spawned the kind of leaders and social movements that resulted in unprecedented death and destruction. Let's hope we're not at the edge of another abyss.
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