the failure of lehman was unprincipled because there was no basis to distinguish it from BSC. I was appalled at the time, and still am, that they let it fail. IMO its failure is the reason for the current giant margin call that is currently being labeled "panic selling."
this whole ad hoc way of dealing with the crisis is emblematic of bernanke. i felt in January that the prior august (2007) he failed to lower interest rates enough. the guy is bright but overthinks.
my retirement plan has always been to own my own home and keep working. recent evens have made clear my fears were justified; there is not such thing as retirement anymore.
Paulson in a State of Panic [View article]
Paulson in a State of Panic [View article]
Paulson in a State of Panic [View article]
Paulson in a State of Panic [View article]
this whole ad hoc way of dealing with the crisis is emblematic of bernanke. i felt in January that the prior august (2007) he failed to lower interest rates enough. the guy is bright but overthinks.
my retirement plan has always been to own my own home and keep working. recent evens have made clear my fears were justified; there is not such thing as retirement anymore.
Lehman's Collapse: Broader Economic Damage Unlikely [View article]