Cayman – at the limits

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The Cayman Islands have sent an open letter to Barack Obama saying what good boys they are and that he should not pick on them.

Most especially I note they say:

none of the financial recklessness that has brought about much of the current global crisis occurred in or involved the Cayman Islands.

Try telling that to Bear Stearns investors.

Like most of the letter, this claim is a little hard to justify.