I can't explain why the raw hucksterism so appeals to me, but there's something in the combination of honest greed and mutually acknowledged prevarication that is deeply compelling.I know. I read your blog, and "honest greed and mutually acknowledged prevarication" describes your relationship with your world perfectly.
Megan pretends hindsight is just as good as foresight.
...Who is there with the capital to absorb the struggling operations of BofA and Citigroup?Before the storm she thought something completely different.
That leaves nationalization, or liquidation. And a fire sale of two of the country's biggest banks would be, she said with dramatic understatement, very bad for the health of the financial system. It's simply not strong enough to absorb the losses.
In the past few days, I've spoken to a few economics people who are feeling a little perkier about the economy's prospects. I tend to think we're in a lull before the storm gets a second wind.
First, the American economy is simply amazingly resilient--1.9% is cause for exultant celebration in a lot of European finance ministries. And second, Barack Obama's campaign team is probably doing some serious rethinking this morning.But if her bosses at The Atlantic don't care she's usually wrong, why should I?