From a friend: “The landlord of Lehman’s London office said the rent payments were insured by A.I.G.”
I’ll now leave this post as an open thread for those CA readers to comment about the current collapse of some of America’s largest private sector institutions.
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COMMENTS / 5 COMMENTS
Joe Jones added these pithy words on 17 Sep 08 at 2:10 amI’m reading this CFR press call right now, the most interesting part of which is discussion of what this all means for the anarchic southern depths of the globe:
http://www.cfr.org/publication/17247/financial_turmoil_and_its_consequences.html
Gollios added these pithy words on 17 Sep 08 at 3:25 amWhy do we have to re-enact scenes from Charles MacKay’s “Extraordinary Popular Delusions and the Madness of Crowds” every seven or eight years?
ElamBend added these pithy words on 18 Sep 08 at 2:43 amThey will be reading about this in 100 years. Here are the thoughts of a very smart guy, including strategic implication for the U.S.
What sucks is that many smart people saw this problem coming a couple of years ago, but facing it was put off because the medicine was always going to be strong. Neither of the presidential candidates truly understand what has happened. It will take real political fortitude to unwind this, and I’m not sure either candidate has it. I pity whoever the next guy is.
Yours Truly added these pithy words on 18 Sep 08 at 3:20 amElambend : everyone prefers to live in la – la land instead of facin’ up to the stark & ugly realities of existence.
SorinPLATON added these pithy words on 28 Oct 08 at 9:27 amSome remarks in romanian/european language for US-UE citizens from Romania, a percent of your readers & taxpayers by the way…
Standard & Poor ‘scade calificative nationale, ca minoritaru’ lautar, ...dupa ureche
http://sorinplaton.wordpress.com/2008/10/28/standard-poors-s-tales/
Cele bune sa se adune,
1= [rezistenta antigloAbalizanta din muntzi :) ]
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