The Last Days of Lehman Brothers

September 9, 2009

The global financial meltdown began here in the United States a year ago, so it is odd that only the United Kingdom’s television viewers will be able to watch tonight’s presentation of “The Last Days of Lehman Brothers.” The BBC broadcast, which has drawn good reviews, is the most ambitious dramatization to date of the events that nearly brought the world’s business infrastructure crashing down. I am among the many …

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Preventing The Next Meltdown

August 5, 2009

Resolving a crisis is good. Preventing one is better. As financial markets start to get back on track, it is time to begin thinking about what we can do to forestall similar crises in the future. We may not need more regulation of the global financial system, but we certainly need smarter regulation. The government must be able to determine where excessive financial risks are accumulating and limit them before …

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Congressional Kangaroos Hold Court

June 30, 2009

The kangaroos are holding court on Capitol Hill, where a House committee suspects Federal Reserve Chairman Ben Bernanke of preventing another economic train wreck. Bernanke was perp-walked last week in televised hearings that explored his role in the acquisition of Merrill Lynch by Bank of America. (In case you don’t know the term, a perp walk occurs when the authorities parade an arrested suspect, usually handcuffed, in front of news …

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