Archive for October, 2008
Greenspan “Admits some mistakes”
Thursday, October 23rd, 2008Understatement of the year, from an article over the WSJ:
Grilled by lawmakers examining the causes of the financial crisis, former Federal Reserve Chairman Alan Greenspan on Thursday admitted some mistakes in assumptions about deregulation while rejecting the idea that he is personally responsible for what he termed a “once-in-a-century credit tsunami.”
Hm, so it must have [...]
Iceland and Thomas Friedman
Sunday, October 19th, 2008New York Times Op-Ed columnist Thomas Friedman uses his latest op-ed to connect the tragedy of Iceland’s banking system with his theories on the flat world, and hits the nail perfectly on the head. As he begins:
If you’re looking for a single example of how the globalization of finance helped get us into this mess [...]