September 20, 2008

To a First Approximation, Last Week Didn't Happen

I was scanning some Morgan Stanley bond data this morning, specifically its 6.625% issue maturing in 2018. Its recent behavior is instructive in thinking about what happened last week, how unusual it was in historical terms, and why models...

Exploding the Short-Seller Myth About Morgan Stanley, etc.

While no-one is likely to change their mind on this -- the vilification of short-sellers is more or less complete -- but let's keep working away at it. Here is some data on the role of short-sellers in Morgan Stanley's...

Text of Paulson Plan

Here is the full text of the Paulson/Treasury plan as sent to congress late yesterday. It is deliberately vague, of course, which will makes its Congressional ride a roller-coaster. At least as importantly, the two key numbers: $700-billion and $3-trillion....
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