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Markets
David’s weekly update on the financial markets and economy
AIG
All the Devils are Here – Indeed
I was skeptical when I heard that Bethany McLean had a book coming out about the financial crisis. McLean made a name for herself with her cartoonish book and film documentary about Enron, The Smartest Guys in the Room. And while society seems to get a kick out of people becoming rich and famous by ...read this post
The End of Wall Street
Roger Lowenstein’s When Genius Failed: The Rise and Fall of Long-Term Capital Management is one of the best books I have ever read about the history of modern finance. So, when I saw that Lowenstein had joined the list of authors chiming on the financial crisis of 2008, I was quite excited. Unlike some highly ...read this post
The Big Short Falls Short in Identifying the Cause of the Crisis
Let me get the easy part of this out of the way first. Michael Lewis is a remarkably gifted writer, and I have often found his books impossible to put down. When I first read his debut at book authorship, Liar’s Poker, I literally read it straight through. I was not alone ...read this post
Solutions So Bad Only Congress Could Think of Them
No organized body has mismatched problems and solutions more eggregiously in the history of mankind than the United States Congress. It would be humorous if it were not so tragic, and by tragic I mean, expensive. The latest batch of confused “problem-solving” comes from none other than John McCain, though he is joined ...read this post
