radcap

WSJ on 'The End of Wall St.'

Regulations can encourage banks to lend/borrow foolishly if they perceive the opportunity to push the potential negative effects to the regulator. its called a moral hazard- the most overused phrase of the "subprime mortgage meltdown, credit crunch/crisis, debacle, the end of wall street" that the media has been feasting on for 1.5 years

Global Markets, Meet President Obama. Now What?

Americans have bought everything that was put in front of them for the last 10 years. Things were bought without regard to usefulness or affordability, all it took was some good marketing. This is the end of the road, Americans have collectively bought the most useless thing yet, and there is no way they can afford it. Ironically, the only hope we now have is that PresElect Obama was lying during the campaign.