links for 2009-03-28

Instead, the American financial industry gained political power by amassing a kind of cultural capital—a belief system. Once, perhaps, what was good for General Motors was good for the country. Over the past decade, the attitude took hold that what was good for Wall Street was good for the country. The banking-and-securities industry has become one of the top contributors to political campaigns, but at the peak of its influence, it did not have to buy favors the way, for example, the tobacco companies or military contractors might have to. Instead, it benefited from the fact that Washington insiders already believed that large financial institutions and free-flowing capital markets were crucial to America’s position in the world.

Based largely on my travels in China but also on events like the linked article, I'm finally beginning to think we're on the tipping point for Electric Vehicles. In five years time, I'd like to see most new cars be Electric. That requires a lot of local infrastructure and commitment to change, which HK government will not do unless China does it first. We're relying on the completely corrupt cadres for any progress. HK Government are truly a bunch of spineless weasels.