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Pushing On A String
Eschaton —
One can certainly take issue with the bailout and the subsequent behavior by banks and other entities which are stealing all our money, but too many people seem to miss or gloss over the simple idea that maybe banks aren't lending money because it'd be pretty stupid to lend money right now. What are they supposed to lend it for? Commercial real estate development? Jumbo mortgage loans as home prices fall? Car loans when unemployment is rising? Industrial development when capacity usage is declining? ...
Lewis and Einhorn.
INSTAPUTZ —
There's been a lot written about Michael Lewis and David Einhorn's pair of pieces in The New York Times. The praise is deserved; their work is excellent. My problem is on a more meta, ethical level, deriving entirely from this note: Michael Lewis, a contributing editor at Vanity Fair and the author of “Liar’s Poker,” is writing a book about the collapse of Wall Street. David Einhorn is the president of Greenlight Capital, a hedge fund, and the author of “Fooling Some of the People All of the Time.” Investment accounts ...
