Wondering why the banking sector’s problems keep failing to go away? Take a look at this chart: Since the early 1980s, we Americans have been piling on debt. Much of that surely has been to the good, enabling us to enjoy our houses and cars and fridges while paying for them rather than waiting until [...]
This is a few days old, but nonetheless very much worth sharing: When historians glance back at 2007 through the haze of their coal-fired stoves, they will mark this year as the onset of the Long Emergency – or whatever they choose to call the unraveling of industrial economies and the complex systems that constituted [...]
The W$J has a big front-page story on Bear Stearns CEO James Cayne’s priorities: During 10 critical days of this crisis — one of the worst in the securities firm’s 84-year history — Bear’s chief executive wasn’t near his Wall Street office. James Cayne was playing in a bridge tournament in Nashville, Tenn., without a [...]
I hesitate to share things that have already been shared by bloggers far more prominent than I (in this case Paul Kedrosky, who got it from Marc Andreessen), but this ITV comedy Q&A on the mortgage meltdown by John Bird and John Fortune is just too brilliant to pass up: The description of the typical [...]
