Tuesday, September 23, 2008

What Happened Last Week is Getting Clearer

New York Post article. Stuff on the level of the Dow is spurious though it would have been bad. This is why the US government appeared to go crazy. Letting Lehman collapse was in retrospect not a good idea. It started a run on money market funds that either held short-term Lehman debt or may have done triggered by The Reserve "breaking the buck".

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