Crisis on Wall Street: Lehman to file for bankruptcy protection, Merrill Is Sold

[brendan]

Why the Bailout Plan Would Be a Disaster
By John Cochrane
John H. Cochrane is a Professor of Finance at the University of Chicago Graduate School of Business.
http://freakonomics.blogs.nytimes.com/2008/10/02/john-cochrane-on-why-the-bailout-plan-would-be-a-disaster/

[brendan]

If every dollar was a second, then $700 000 000 is equivalent to ~22 197 years.
If every dollar was a kilometre, then $700 000 000 is equivalent to circling the earth 17 481 876 times.

[brendan]

More commentary
http://gregmankiw.blogspot.com/2008/10/more-commentary-on-financial-mess_05.html
http://business.theage.com.au/business/system-suffers-when-everyone-has-somewhere-to-hide-20080929-4qfz.html?skin=text-only

[brendan]

citi just got pwned by wells fargo =p

[costargh]

http://business.theage.com.au/business/system-suffers-when-everyone-has-somewhere-to-hide-20080929-4qfz.html?skin=text-only

What is the authors contention? I am having trouble.

[brendan]

lol who knows

[AppleXY]

citi just got pwned by wells fargo =p

I know. Piece of crap.

lol dmn you Wells lol (wachovia)

[brendan]

A discussion of Credit Default Swaps with an interview with Jim Grant on CBS 60 Minutes http://calculatedrisk.blogspot.com/2008/10/60-minutes-wall-streets-shadow-market.html

[brendan]

More commentary by
VERNON L. SMITH
http://online.wsj.com/article/SB122351051370717359.html

ROBERT J. SHILLER
http://online.wsj.com/article/SB122351058182717399.html

MANUEL HINDS
http://online.wsj.com/article/SB122351071819917433.html

[Noblesse]

...And the bloodbath continued today, with the S&P/ASX200 down 360.2 points to 3960.7 following the NYSE's lead yesterday, down 678.90 to 8579.19.


From http://punditkitchen.com/

[Noblesse]

Just captioned this before, need a better picture IMO.



Any suggestions?

Reference: http://encyclopediadramatica.com/IT%27S_OVER_NINE_THOUSAND!

[brendan]

[AppleXY]

Ooo. Where did you get the Brendan?

lol One word. CFDs and derivatives. 'Nuff said (options )

[brendan]

http://gregmankiw.blogspot.com/2008/10/how-to-recapitalize-financial-system.html

No Depression
Laurence J. Kotlikoff, a professor of economics at Boston University, is co-author of "Spend 'Til the End."
Perry Mehrling is a professor of economics at Columbia University's Barnard College and author of "Fischer Black and the Revolutionary Idea of Finance."
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/08/AR2008100802931.html

We Have the Tools to Manage the Crisis
By PAUL VOLCKER
Mr. Volcker was chairman of the Federal Reserve from 1979-1987.
http://online.wsj.com/article/SB122360251805321773.html

Why we need lower tax rates and more skilled immigrants.
By LEE E. OHANIAN
Mr. Ohanian is a professor of economics at UCLA and director of the Ettinger Family Program in Macroeconomic Research.
http://online.wsj.com/article/SB122342618776613613.html

Our Choice
Nouriel Roubini, a professor at the Stern Business School at NYU and chairman of Roubini Global Economics, is a weekly columnist for Forbes.com.
http://www.forbes.com/opinions/2008/1008/recession-depression-keynes-oped-cx_nr_1009roubini.html

The credit crunch may cause another great depression
Nicholas Bloom, Assistant Professor of Economics at Stanford University
http://www.voxeu.org/index.php?q=node/2243

The Government Is Contributing to the Panic
By JONATHAN MACEY
Mr. Macey, a law professor at Yale, is the author of "Corporate Governance: Promises Made, Promises Broken" recently published by Princeton University Press.
http://online.wsj.com/article/SB122367942018324645.html

[brendan]

An Economy You Can Bank On
By CASEY B. MULLIGAN
Casey B. Mulligan is a professor of economics at the University of Chicago.
http://www.nytimes.com/2008/10/10/opinion/10mulligan.html?_r=2&hp=&oref=slogin&pagewanted=all