Let me be clear up front: I do not like this bailout. Having said that something has to be done. We are in the grip of the worst financial crisis since the Great Depression. So action needed to be taken. The problem is that this plan seems so ad hoc and ill conceived that it […]

This bothers me, it really does. Here is today’s column under the masthead of ‘Freakonomics’ in the New York Times: Diamond and Kashyap on the Recent Financial Upheavals – Freakonomics – Opinion – New York Times Blog Now I understand the good intentions. The amazingly popular Steve Levitt, author of the Freakonomics column has prevailed […]

I have been trying to follow events on Wall Street all day. It has been an extraordinary experience. For those of you who are only peripherally aware of what’s going on it’s hard for me to put the right words together. I suppose melt down will have to do. As of midday the stock market […]