Here’s the secret: when asset prices are advancing like crazy, and you’re investing someone else’s money, you don’t EVER want to be the guy who calls the top too early. It’s bad, but not terribly bad, when everyone in the world loses money at the same time. But it’s an unpardonable sin on Wall Street to lose money while everyone else is still gaining.
Tag Archives: financial crisis
What Happens When Washington Becoms Hyper-Intrusive?
Well, among other things, college costs become less affordable for students and their parents:
Naked Short Selling and the Financial Crisis
Today’s podcast focuses on the controversy over naked short selling, prompted mostly by leftist Rolling Stone reporter Matt Taibbi’s coverage of the financial crisis, and whether or not the practice is actually to blame for a whole slew of terrible things — including the demise of Lehman Brothers.
Hank Paulson, Master of Disaster
Francis Cianfrocca joins Ben Domenech for the Tuesday, September 1st edition of Coffee & Markets. Today’s podcast focuses on Todd Purdum’s Vanity Fair profile of Henry Paulson, which contains some fascinating anecdotes about Paulson’s time during the financial crisis.
More on Fed Policy
This morning’s podcasts have drawn a few comments, so I thought it might be a good idea to respond generally.
Have We Reached the Turning Point?
Are we at a turning point in the current crisis? The problem in answering is that it’s been all too easy for many people to assume that if we fix the financial crisis, we’ll fix the economic crisis. I’m not convinced of this.
Government’s Role In Creating The Financial Crisis
Peter Wallison doesn’t toe the line of conventional wisdom when it comes to discussing the cause of the financial crisis. That’s a roundabout way of saying that he speaks truth:
- March 19, 2010 -
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