nytimes.com - 1/5/2009
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We have a brief chance to cure ourselves. But first we need to ask: of what? >
nytimes.com - 1/4/2009
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nytimes.com —
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, ...
(more)
Op-Ed Contributors - How to Repair a Broken Financial World
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Taking Our Medicine
Political Animal —
Taking Our Medicine The NYT has a long piece on the financial meltdown in two parts: 1 , 2 . It's very much worth reading. One point in particular jumped out at me: "THERE are other things the Treasury might do when a major financial firm assumed to be "too big to fail" comes knocking, asking for free money. Here's one: Let it fail. Not as chaotically as Lehman Brothers was allowed to fail. If a failing firm is deemed "too big" for that honor, then it should be explicitly nationalized, both to limit its effect on other firms and to protect the guts of the ...
Taking Our Medicine
Obsidian Wings —
... by hilzoy
The NYT has a long piece on the financial meltdown in two parts: 1, 2. It's very much worth reading. One point in particular jumped out at me:
"THERE are other things the Treasury might do when a major financial firm assumed to be "too big to fail" comes knocking, asking for free money. Here's one: Let it fail.
Not as chaotically as Lehman Brothers was allowed to fail. If a failing firm is deemed "too big" for that honor, then it should be explicitly nationalized, both to limit its ...
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