Bond villains
After working for Bill Clinton, the political strategist James Carville said he had changed his mind about where power really lies. ‘I used to think that if there was reincarnation, I wanted to come back as the President or the Pope,’ he said. ‘But now I would like to come back as the bond market. You can intimidate everybody.’ By this he meant that every political leader, no matter how powerful or radical, lived in fear of going too far into debt, lest the market hiked up interest rates, tipping the government into collapse. Alas, that’s no longer the case. This magazine ridiculed Gordon Brown for claiming to have ‘put an