nytimes.com - 1/4/2009
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Continued from "The End of the Financial World As We Know It" Mr. Paulson must have had some reason for doing what he did. No doubt he still believes that without all this frantic activity we’d be far worse off than we are now. All we know for sure, however, is that the Treasury’s heroic ...
ritholtz.com - 1/4/2009
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ritholtz.com —
Here is another excerpt — part II —
of the all consuming OpEd of the Sunday New
York Times by Michael Lewis and David Einhorn: Excerpt: When Bear Stearns failed, the government induced JPMorgan Chase to buy it by offering a knockdown price and ...
(more)
How to Repair a Broken Financial World | The Big Picture
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"Somehow"
Rising Hegemon —
... that this wasn't some organic process. So I'd feel better if the sentence read as follows: Created to protect investors from financial predators, the [Securities and Exchange] Commission was re-engineered by the Bush administration into a mechanism for protecting financial predators with political clout from investors. Anyway, other than that very small quibble, The End of the Financial World as We Know It (and its companion piece How to Repair a Broken Financial World) are very worthwhile (as is Lewis's December "Portfolio" ...
The N-Word
The Corner on National Review Online —
... The idea has been floating around since at least last October but today many people think nationalization could be imminent. [...] If forced to give odds, we'd say that while Citi could be nationalized nothing as drastic will happen to Bank of America. It seems far more likely that Bank of America would receive something like the asset value guarantee Citi already got from the government. In either case, we could be headed into another bailout weekend. Michael Lewis and David Einhorn suggested something like this in a widely-read op-ed published earlier this month: THERE are ...
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