The limits of market rationality
On one hand, this whole global financial crisis (is that what we’re having again?) thing is horrendously complex. On the other, it’s quite simple. Let’s focus on the simple. The meltdown that followed the end of the credit and housing [...]
Spend, spend, spend! It's your patriotic duty… or something
The stock market has lost 51% of its value since its peak, a decline we’re told now exceeds the destruction of value seen in 1987. On the ABC News tonight, Alan Kohler grimly pointed to an index (tradeable, I think, [...]
TARP watch: bailout FAILOUT
Vote count: Democrats: 141 Yea, 94 Nay Republican: 66 Yea, 132 Nay The Times – Analysis: bailout vote calls Hank Paulson’s bluff Negotiators had worked all weekend to accommodate some of the doubts of conservative Republicans who objected to such [...]
Enough Canberra circus, on with the Wall Street crisis
Brendan and Malcolm have provided a nice little distraction, but it’s time to look at other world news: to wit, another US financial giant has hit the deck (two, if you count the takeover of Merrill Lynch as well as [...]
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