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Apparently, Lehman WAS murdered

The Murder of Lehman Brothers: An Insider’s Look at the Global Meltdown

On the first anniversary of the murder of Lehman Brothers, Joseph Tibman, a 20-year veteran and senior investment banker, reveals in plain English, the people and forces that share responsibility for this catastrophe. His shattering account is told as only a true Lehman [...]

Long short, short shorts, board shorts and sell shorts

SEC to Look at Short-Selling Curbs – WSJ.com

WASHINGTON — The Securities and Exchange Commission plans to unveil several short selling restriction proposals Wednesday.

One includes reinstating the “uptick rule,” a Depression-era rule abolished by the SEC in 2007 that prevented traders from short selling unless the price of the stock from the most recent [...]

‘Bad Bank’ Funding

‘Bad Bank’ Funding Plan Starts to Get Fleshed Out – WSJ.com

WASHINGTON — The Obama administration, filling in some of the blanks in its bank bailout, is considering creating multiple investment funds to purchase the bad loans and other distressed assets that lie at the heart of the financial crisis, according to people familiar with [...]

Bursting the bubble

Picked up The Origin of Financial Crises: Central Banks, Credit Bubbles, and the Efficient Market Fallacy, by George Cooper recently.

Yeah, I know … sounds really exciting doesn’t it. But in reality, from what I’ve read so far, the book seems to do a great job of explaining how the global economy has been pushed [...]

America’s crisis worse than Japan?

America’s crisis in a historical context | Worse than Japan? | The Economist

THERE is one consolation for the depressing instability of finance. History offers a rich array of banking crises from which policymakers can draw lessons—and against which today’s rescue plans can be judged. According to an IMF database, there have been 124 “systemic” [...]

The return of economic nationalism

The return of economic nationalism | The Economist

MANAGING a crisis as complex as this one has so far called for nuance and pragmatism rather than stridency and principle. Should governments prop up credit markets by offering guarantees or creating bad banks? Probably both. What package of fiscal stimulus would be most effective? It varies [...]

The aftermath …

Perhaps this plan will make Art a little happier … but I’d like to read the actual text of the bill before I make any judgments.

Democrats offer alternative ‘no bailouts act’ – CNN.com

WASHINGTON (CNN) — A small group of Democratic House members put together an alternative to the $700 billion financial bailout measure [...]

At what cost, “NO”?

Without a Bailout Plan, What Will the Cost Be? – TIME

By voting down the proposed $700 billion financial bailout package — and causing a spectacular stock market rout — a majority of members in the House of Representatives made a clear statement that they didn’t want to put taxpayers on the hook for the [...]

Bush to address nation to push bailout – CNN.com

Bush to address nation to push bailout – CNN.com

NEW YORK (CNN) — President Bush will deliver a prime-time televised speech Wednesday night to pressure Congress to pass a $700 billion plan to bail out Wall Street, the White House announced.

Bush’s speech is set to begin at 9:01 p.m. ET and will take just [...]

Thoughts on the bail-out

Here’s a thought.

A $700-billion cost to the American taxpayer would come only if every single one of the mortgages that the government buys up defaults … that’s a lot of defaults.

There’s a lot of people out there that will do whatever they can to keep their homes, which means a good chunk of [...]