Elsewhere on Wednesday,
- The Fed’s $800bn lending boost merely reinforces bad behaviour.
- The return of Larry Summers.
- An eye-opening chart: What do you know, when people have an option not to pay, they don’t – and then the principal gets larger.
- The defense of short selling - or, to be more accurate, the attacks on the attacks on short selling - has become knee-jerk and surprisingly naïve.
- The greed that ate Morgan Stanley: Just when you can’t get any more cynical about Wall Street, you come across something that proves you lack imagination.
- Berkshire’s puts: Not such a great idea.
- Rocking and rolling into the White House, or why surfers and snowboarders have outdone skaters in seeking political office.
- Not since Hitler parked his tanks on our neighbours’ lawns have Britain’s public finances deteriorated at such an alarming rate.
- Vikram Pandit’s got “One More Screw Up” left. What will it be?
- Fishy disclosures (really).
- “The western financial system we knew has collapsed.”
- We’ll never know if AIG and Citigroup are too big to fail because the US Treasury isn’t going to let them.
- “If there is one thing more tedious than talking about your working day, more tedious than any episode of EastEnders, or any record made by Alvin Stardust or even listening to your girlfriend talk about her dreams, it is having to listen to someone wibble on about what happened in the office.”
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