Video: Goldman and Morgan Stanley were this close to bankruptcy
Hat tip Prieur du Plessis
About Edward Harrison
- Goldman and Morgan Stanley are now banks 22 Sep 2008
- Morgan Stanley: rogue trader goes missing 20 Jun 2008
- Financial Alchemy at Morgan Stanley: Greywolf A3 CDOs now Aaa bonds 8 Jul 2009
- Morgan Stanley warns of a new inflationary period 18 Jun 2008
- Citigroup and Morgan Stanley: the City Morgue is now open 13 Jan 2009
What a frightened, oily little worm this Sorkin is, acknowledging that the crisis was foreseeable yet unwilling to criticize the Geithners that were in a position to do something about it. Might his job with the ruling class’s newspaper of choice, one that gives voice to slime like Tom Friedman, have something to do with that?
All that reports and books of this kind serve to accomplish is to bouy the arguments of the Paulsons and the Summers that if we hadn’t have acted, the universe would have come to an end in 2008. For whom, them? Judging from what’s happened since, them and only them, it would seem. They’d already taken down countless numbers of average people by the time Lehman occured and chisled in stone the fate of countless others afterward so who else but them might have been effected, catastrophized? Thanks but no thanks. My daily quota of weasel words already has been over fulfilled.