Day September 13, 2008

Roots of the current financial crisis

From financial blogger Barry Ritzholz at The Big Picture The current headache begins and ends with ideology, namely that of former Fed Chairman Alan Greenspan–an acolyte of Ayn Rand, a free-market absolutist, a true believer in the evils of regulation.…

The other monster hurricane

NY Times The New York Fed has told the heads of major Wall Street firms to prepare for an orderly liquidation of Lehman Brothers on Monday and that “if the industry failed to solve the problem their individual banks might…