September 25, 2008
As much I'm happy to criticize the deranged U.S. for this ongoing credit market fiasco, the following quote from a German finance minister Peer Steinbrueck frankly pisses me off: He championed the German banking system over its U.S. counterpart, dismissing...
Some quick links to things other may found interesting: Michael Lewis says we need to save Goldman Sachs' bonuses to save the world (Bloomberg) Let's ease off hiring Goldman Sachs people for so many senior governmental positions (FT) Roubini conference...
Kilgore: Someday this war is gonna end. -- Apocalypse Now (1979) Marc "Gloom, Boom, & Doom" Faber wins the prize for big, hairy audacious market goal post-Paulson plan acceptance. He says we could see 1,350 on the S&P...
This only fills in the anecdote blanks for anyone paying attention, but there is a looooong new two-part Bloomberg series out castigating the credit rating agencies. It's worth reading, however, and you can think of it as a complement to...
From comments by Barney Frank tonight, a deal has been reached by House and Senate Democrats to create legislation to pass the U.S. Treasury financial market rescue plan. Here is the money quote (literally): There is conceptual agreement, including I...
If something cannot go on forever, it will stop. -- Herb Stein, from sometime in the 1980s The above remains one of my all-time favorite quotes about financial markets, and it feels more true and important today than...
