The genesis and aftermath of Lehman's downfall illustrate the difficult position policy makers are in as they grapple with a deepening financial crisis. They don't want to be seen as too willing to step in and save financial institutions that got into trouble by taking big risks. But in an age where markets, banks and investors are linked through a web of complex and opaque financial relationships, the pain of letting a large institution go has proved almost overwhelming.--CARRICK MOLLENKAMP, MARK WHITEHOUSE, JON HILSENRATH and IANTHE JEANNE DUGAN
I have the body of a god. Too bad it's Buddha.--New Orleans T-shirt
Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Monday, September 29, 2008
Quotes of the day
Labels:
banking,
economic policy,
jokes,
Wall Street
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