What Happens If There’s No Bailout?
Yesterday morning, the new week started off on a hopeful note in world financial markets, as all eyes turned to the action in the US Congress. Secretary Paulson and Chairman Bernanke had managed to create enough fear among lawmakers to convince them that a large emergency bailout is needed, in order to repair the balance sheets of banks, Wall St. firms, and other financial intermediaries. | Read More »
Greed Is Good
“The point is, ladies and gentleman, that greed- for lack of a better word- is good. “Greed is right. “Greed works. “Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. “Greed, in all of its forms- greed for life, for money, for love, knowledge- has marked the upward surge of mankind.” And greed should also cut down, in bloody fashion, those who | Read More »