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liveblogging the state of the u.s. financial system


 

9:30 a.m. to 4 p.m. ET Aiiiiiiiiiiiiiiiiiiiiiiiiieeeeeeeeee!!!!!!!!!!!!!!!


 

liveblogging the state of the u.s. financial system

  1. It’s uncanny. I feel like I’m there watching it with you.

  2. Alan Greenspan helped initiate the crisis by applying banking regulations to banking-derivative hybrids in 1999. He may have also had something to do with low interest rates post 9-11 and the associated housing bubble.
    He claimed investment banks could regulate themselves. Reminds me of what certain PM I won’t name said about cutting CFIA in July 2008.

    The # of derivative instruments will only rise until these shocks unleash global non-financial unemployment. Our banks should increase capital ratios as global derivatives proliferate but we have lots of commodities.

  3. You are absolutely right. He contributed to making the problem and the news around the problem and now hits the spotlight again commenting on the news. Maybe he is feeling guilty – i think NOT.

  4. Do we get to vote? Wadya mean the “financial engine of democracy” ain’t subject to the discipline of the vote? It’s not fair.

  5. The market has a logic
    Whose wonders never cease.
    It’s basically predictable
    And free of all caprice.
    It hits the floor in time of war
    And lower when there’s peace.
    And all the smart investors
    Rely on LSD.
    A simple little business,
    It’s A-B-C.

    — Carolyn Leigh, How Now, Dow Jones (1967)

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