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Music Memories + Songs

Saturday, August 28, 2010

On a hot tub cover

I'm also done reading an interesting book on the financial crisis, The End of Wall Street. It does have a lot of behind the scenes detail of the peak of the crisis from March to September 2008, instead of focusing on events leading up to that period like some books (some books on the "crisis" were published before September 2008, so they're obviously incomplete, published too soon to take advantage of the subject). The Fed and the Treasury chief and the rest of the government thought they could cap the problem before it got out of hand, like putting down a hot tub cover, but that didn't work. And they couldn't think of all the side effects of their actions, such as how letting Lehman Brothers go bankrupt would affect money market funds.

1 Comments:

  • is this blog about music anymore? on the whole front page isn't anything about music. maybe you changed what you are blogging about?

    By Blogger Ed, at 12:58 PM  

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