A Theatre Of Desperation: Leaders At A Loss
The economic crisis will plunge the world into a prolonged period of social turmoil. Leaders all over the world are clueless and are buying time by burning national reserves just to save face. Protectionist tendencies preclude global conflicts, social instability and totalitarianism.
From Bad Bank To Worse Bank
Fragments of the Obama anti-crunch package are slowly emerging in the media and are immediately dissected by the pundit blogs. Here’s a valuable contribution from today.
The Better Bad Bank
Is there an alternative for the bad bank scenario? George Soros offers some interesting thoughts (as always).
Who Led Us Down The Road To Ruin?
An in-depth review of the individuals who have led us into the current crisis.
Merrill Traders To Mortgage Assets: I Wish I Knew How To Quit You
TPM: Today, buried in a New York Times story about the downfall of former Merrill CEO John Thain — whose ouster as a Bank of America exec was announced yesterday — is an intriguing nugget that suggests just how attached Merrill was to those toxic assets.
Watch Out For The PIGS Disease!
When will countries start defaulting on their debt? And what will they do about it, other than ordering money printing presses, given the fact that they will drag other Euro zone countries with them into the financial abyss.
